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Financial Analysis Of The Profitability And Risk Of Drug Manufacturers In Romania Under The Influence Of Economic Crisis

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  • Ph. D. Silviu-Valentin Carstina

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

Abstract

This paper analyses the evolution of the romanian medicines industry in the context of the actual economic and financial crisis, by studying 3 of the most important production companies in the area: Antibiotice Iasi, Biofarm and Zentiva, in the period 2007-2009.The diagnosis was done by analyzing of some of the profitableness and risk indicators used in the international experience, and by studying the correlation between risk and profitableness for each company, starting from the financial situations published. Conclusions of the study reveals the fact that, even though the local production of medicines was affected by the crisis , it still continues to be profitable , being touched by little risks. The pharmaceutical industry works with the most important resource that anyone could have: our health. That’s why, it will be profitable no matter the conditions generated by the economic environment. Also, regarding the perspectives that this industry has, we consider that it will provide a real economic growth to our country.

Suggested Citation

  • Ph. D. Silviu-Valentin Carstina, 2011. "Financial Analysis Of The Profitability And Risk Of Drug Manufacturers In Romania Under The Influence Of Economic Crisis," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 4(39), pages 61-71, May.
    • Handle: RePEc:aio:aucsse:v:1:y:2011:i:11:p:61-71
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    File URL: http://feaa.ucv.ro/AUCSSE/0039v4-008.pdf
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    More about this item

    Keywords

    profitability; risk; correlation; pharmaceuticals; financial crisis.;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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