Krka Welcomes ‘Highest Ever Net Profit’ As EBITDA Jumps By 30%
Slovenian Company Publishes Preliminary 2020 Financial Results
Slovenia’s Krka saw business boom as it rushed to supply the demand created by the coronavirus pandemic, while reaping the benefits from its vertically integrated business model. CEO and president of the management board Jože Colarič has just been appointed for another six-year term.
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After reporting a profitable 2020, Slovenia’s Krka is looking to expand its cardiovascular and oncology portfolio, while adding to its diabetes and central nervous system range as well. The firm has also started manufacturing in China for the local market.
The EMA’s CHMP has recommended granting pan-European marketing authorizations for Krka’s lenalidomide versions of Revlimid and Accord’s sunitinib rival to Sutent, as well as Xeris Pharmaceuticals’ glucagon hybrid rival to Glucagen.
Krka’s bottom line continues to be stronger than usual, driven by a hike in sales and leaner cost base. Looking to 2021, however, management brought investors back down to earth.