NewsPharmaceutical sector analysis: Top companies' performance in Montenegro

Pharmaceutical sector analysis: Top companies’ performance in Montenegro

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The leading ten companies within the pharmaceutical sector collectively amassed a total revenue of 458.89 million euros last year, alongside a profit of 19.7 million euros, employing a workforce of 2,180 individuals, as reported by an analysis from Bankar.me portal.

Montefarm, a state-owned entity, secured the top position in revenue generation, boasting 143.2 million euros, although its profit witnessed a 43 percent decline compared to the preceding year, settling at 1.1 million euros. The company maintains a staff of 486 employees.

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Glosarij emerged with the highest profit margin of 5.69 million euros, marking a ten percent growth from the previous year. Its revenues surged by 13 percent, reaching 128.3 million euros, with a workforce of 156 employees. Farmegre experienced a substantial revenue upswing of 24 percent, reaching 56.46 million euros, while its profit soared by 36 percent to 2.5 million euros, supported by 88 staff members.

Hemomont witnessed a robust revenue growth of 21 percent, amounting to 43.37 million euros, accompanied by a profit surge of 48 percent, totaling 1.98 million euros, with a workforce of 209 employees. Tea Medica’s revenue saw an eight percent rise, reaching 21.67 million euros, while its profit increased by 14 percent to 972.2 thousand euros, with 208 employees.

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Glosarij recorded an 18 percent revenue growth, totaling 14.83 million euros, with a 19 percent profit increase to 3.12 million euros, supported by 18 workers. Benu, a pharmacy chain, reported a nine percent revenue uptick, reaching 14.78 million euros, alongside a 36 percent profit surge, amounting to 710 thousand euros, maintaining a staff of 164 employees.

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