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Polfa Tarchomin, a Polish state-owned pharmaceutical producer, is planning an investment program, informs Puls Biznesu. It wants to expand its product portfolio and develop contact manufacturing. It intends to obtain funds for the development, among others, from the sale of land.
New generic medicines
Currently, half of Polfa Tarchomin’s revenue comes from antibiotics, and another 30% from medicines affecting the central nervous system. The company intends to develop sales of these two categories, both in Poland and abroad, but also plans to expand its product portfolio.
In the short and medium term, it intends to obtain licences for medicines. In the medium and long term, Polfa wants to develop its own generic drugs. Currently, the company is working on several projects, including dermatology, diabetology and psychiatry. Due to high costs and long project duration, Polfa does not intend to develop innovative products.
The company is also working on new forms of administration of known drugs. The company wants to use unique, according to it, aerosol dermatological lines and freeze-dried injection forms on the Polish market, the newspaper reports.
Exports are supposed to generate half the revenue
The second direction of Polfa’s development is to be export. In 2018, it constituted about 10% of revenues, but recorded a decrease by as much as 40%. It resulted from renegotiation of unprofitable contracts in Eastern Europe and Vietnam. In 2019, the value of export sales is to return to the 2017 level.
In the following years, it is to grow and ultimately be responsible for as much as half of the company’s revenues. In order to increase exports, Polfa plans, among others, to expand to Western Europe.
The investments will be financed by the sale of land
Polfa’s plans also include a development of contract manufacturing. Currently, some of the company’s production lines are used only in 40-70%, which opens up production opportunities for other pharmaceutical companies. Polfa Tarchomin is currently conducting talks with over a dozen companies, both from Poland and abroad. It is counting on signing the first contracts at the beginning of 2020.
Polfa wants to obtain funds for the implementation of the investment programme from, among others, the sale of land. After the last sale of 7 ha to PFR Nieruchomosci, it still has about 30 ha of plots for sale.
The company’s representatives in the interview with the newspaper stress that it is too early to think about obtaining financing from the stock exchange. It is difficult to estimate the company’s value, among other things, due to its real estate portfolio.