Leading pharmaceutical company in the region - Alkaloid Skopje is planning export to the Russian market, production expansion in Serbia and foreign acquisitions

Macedonian company Alkaloid Skopje operated successfully in2015, achieving consolidated revenues from sales of EUR127.5 m. Thepharmaceutical company, which has been present in Belgrade for seven decades,will soon celebrate 80th anniversary and announces further investments and newmarkets.

- We applied for registration in Russia, and the plan is toproduce medicine in Serbia for this market. The advantage is that Serbia has afree trade agreement with Russia. This is a great opportunity for us and anopportunity to continue investments - Zivko Mukaetov, CEO of Alkaloid ADSkopje, said.

He added that the company in Serbia employs about 100 people.The production plant of Alkaloid Beograd comprises 62 registered products, orabout 6 million packages. Total portfolio at the Serbian market comprises about200 drugs.

- In Serbia, we are competitive when it comes to drug prices.Best-selling product in the segment of the pharmacy is “caffetin". In cooperation withforeign partners, in 2011, we developed a "cold cafftin max" bagswith powder, and we are working on new forms of this medicine - Igor Petrov,director of "Alkaloid Beograd branch office said.

As stated, the company is a partner of the Republic Fund forhealth insurance, and most of the pharmaceutical products are on the positivelist of medicines.

In 2015, Alkaloid Beograd has implemented SAP system (SystemApplication Products), which with its modules fully integrates all company businesssegments. The company last year ranked as the third largest pharmaceuticalproducer in Serbia, while when it comes to sales it ranks the eight.

After Macedonia, Serbian market is the largest one ofAlkaloid when it comes to sales volume with a share of 18%. Company leaders emphasizeimportance of a regional approach, and integrating small markets which insynergy generate significantly higher export potential.

- Small domestic market is a starting handicap. We have focused on exports, andwe are open to new partnerships. In Serbia, we are working with Hemofarm and we are currently at the stage ofregistration of Hemofarm’s infusionsolutions for Croatian market. We believe that there is room for furthercooperation and penetration to markets- Mukeatov explains.

He points out that the main objectives of Alkaloid are an increasein sales and international expansion.Also, developmental strategy of Skopje-based company comprises acquisition ofpharmaceutical companies outside Macedonia. According to GM, the maininvestment focus is on the regional markets, then European Union, Russia andother CIS countries and the third priority is US and Arab countries.

(Zivko Mukaetov)

Cosmetics and botanics

"Caffetin" is probably the most famous export brand ofMacedonia, whose history dates back to 1957. So far, about 10 billion tabletshas been sold and "caffetin" is present at 15 world markets.

Apart from pharmacy, the company also operates successfullyin cosmetics sector. The company is known for its brand of kids’ skin care, "Becutan",which accounts for 80% share in total production of cosmetic programs."Becutan" is the market leader in Macedonia and it generatesexcellent sales in the region of Southeast Europe, Serbia, Croatia, Slovenia, andMontenegro.

Alkaloid is also the first certified producer of organic teasin Macedonia. The company is particularly focused on the US market, andcooperates with Booking International giants like AVEDA (member of "EsteeLauder group), Arbonne International and Swanson.

The result of those investments are numerous certificates and awards,such as "Fair Wild" certificate from the Institute for Market Ecologyin Switzerland, "CE Certificate" for hemodialysis, a certificate ofconformity with principles of Good Manufacturing Practice (GMP) certificate ofthe British regulatory agency for drugsand health care (MHRA).

-The investments paid off, and our goal is to maintain growingand development trend as well as to earn the title of "stable partner forthe future" - Zivko Mukaetov says.

Alkaloid in figures

Sales network of 16 subsidiaries and 4 offices
Over 1.250 employees at the headquarter and over 350 abroad
18 legal entities abroad
Product presence at 30 markets
More than 20 products in licensed programs
Consolidated sales profit in 2015 - EUR 127.500.000
Investment cycle of over EUR 110 m in the previous 15 years
Number of shareholders: 5.100

Katarina Marinkovic