Romania's Farmexim looking to expand

The Farmexim Bucharest pharmaceuticals importer and distributor inRomania has said it plans to expand its drugstore network nationwide this year, according to the Mediafax news agency. The company currently operates 11 HelpNet drug stores, of which 10 are in Bucharest and one in Timisoara. New stores are planned in Brasov, Constanta and Cluj, though it was noted that Farmexim's investment plan is contingent upon favorable economic developments in Romania.

However, according to Farmexim, the main problems facing pharmaceutical importers and distributors in Romania are an unstable business environment and insufficient funding of the health care system. It is calling for a reduction in value-added tax on medicines and increased health spending. Farmexim, established in 1990, recorded turnover of $10 million in the first five months of this year, and expects full-year 2001 revenues to reach $24.5 million.