PRAGUE (Thomson Financial) - An expected drop in Zentiva's 2007sales in the Czech Republic will be offset by a growth in the Czechdrug maker's other markets, newswire CTK cited Zentiva's chiefexecutive as saying.
'Thanks to the fact that we operate internationally, reforms andrestriction in the Czech healthcare system didn't damage us,' Zentiva'sJiri Michal told the newswire.
'Our sales in the Czech Republic in 2007 fell compared to 2006. Butwe balanced the decline by growth in other markets,' he added.
Overall sales in the generic drug maker operating in central andeastern Europe likely grew 20 pct last year, in line with the company'searlier estimates, CTK reported.
'We stick with our announcement which we made to shareholders whenreporting the third quarter results,' Michal told the newswire whenasked about the company's full year results.
When reporting the third quarter results, Zentivasaid it expects full year sales to grow by a fifth, thanks to its lastyear's 460 mln eur acquisition of Turkey's biggest drug companyEczacibasi Generic Pharmaceuticals.
Michal also told the news wire he doesn't expect Zentiva to make any major acquisition this year.
'We wouldn't want to miss any opportunity, however due to the(recent) Turkish acquisition we don't count on any significant buy in2008,' Michal said.
He reiterated he expects the Turkish market to become Zentiva's main sales driver in future.
