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Industry / Hungary

Egis Posts Low Growth For Fiscal Year But Long-term Outlook More Positive

November 2010 | Industry Trend Analysis

BMI View: Hungary-based Egis has posted weak financial figures for its 2009/10 business year. The company's financial results are based on revenues from October 1 2009 to September 30 2010. Despite strong export growth in Russia and the Commonwealth of Independent States (CIS), poor domestic sales and a contraction of exports to other countries has led to a weak sales growth performance. However, BMI believes Egis will outperform its global peers over the medium-to-long term. Compared to drugmakers with a high exposure to Western Europe and the US, BMI believes Egis is well positioned geographically to exploit higher pharmaceutical expenditure growth forecasts in Central and Eastern Europe (CEE).

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