Bioton insulin producer promises higher income

MAG
opublikowano: 03-07-2008, 12:35

Warsaw (Puls Biznesu) – Adam Wilczega, the CEO of listed Bioton, says that investing time is over and the company will now see its income substantially grow. Investors cannot believe in new promises of  the management.

Bioton, the biotechnological company controlled by Ryszard Krauze, has good news for investors.

“Investors had expected from us too much in too short time. There are lots of elements not dependent on us. We ourselves did not expect that medicine registration would take so long. But the hardest time is over. We have invested in building the group. We have built a portfolio of top biotechnological products. Preparations are very advanced to implement them onto the market. Harvesting time is upcoming”, Adam Wilczega, Bioton CEO said.

The company hopes that registering its medicine with interferon beta at the European medicine agency EMEA will bring great results.

“In September, we expect positive opinion from EMEA. 210 days later at the latest we will receive a certificate enabling us to implement the medicine in Western Europe. Still in fall, we want to start registration of this medicine in the USA. We have a chance to become world’s fourth producer of interferon beta. In the second half of 2009, BioPartners should launch distribution in Europe. It may take even 2 years to get permit for distribution in the USA”, Bioton CEO said.

Meanwhile, the company is strengthening its position on the insulin market.

“We sell insulin in 20 countries. The main markets include Poland, Russia, and India. We are entering China. This year, we want to sell the product in Ukraine. We don’t give up the attempt to take over Ukrainian Indar but it does not influence our strategy there”, Adam Wilczega said.

In September, Bioton will end building insulin plant in Mory near Warsaw. The whole production will be moved there. The new facility will produce 1,000 kg of insulin against 300 kg today.

“I’m glad that Bioton CEO is optimistic but there are many elements influencing the business. Registration procedures last very long. A lot may happen in the meantime because rivals are also active. Bioton still has perspectives of substantially higher results but the road is not simple. And because there have been so many deadlines and promises the company failed to keep in the history, the market is cautious about new plans”, Pawel Burzynski, BZ WBK analyst commented.

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Podpis: MAG

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