Alkaloid is the largest company on the Macedonian stock exchange with an investment of 110 million euros in the last 15 years

Alkaloid AD from Skopje has grown two and a half times in the last ten years, has more than 1600 employees, is the largest Macedonian exporter, and exports to over 30 countries worldwide. In the last fifteen years, 110 million euros have been invested in development, making it the largest company on the Macedonian stock exchange, with shares valued at 138 million euros.

With a grand celebration in Skopje attended by 1,300 guests, the Macedonian pharmaceutical company Alkaloid AD marked its 80th anniversary. The tradition of alkaloid production in Macedonia dates back to the early 20th century, and when the company was founded in 1936, it employed 15 workers. Today, the modern factory, along with the Institute for Quality Control and Development, employs over 1600. Alkaloid AD produces medicines, chemicals, cosmetics, and teas, and is recognized for its superbrand Caffetina, a pain relief medication that accounts for 13 percent of total Alkaloid drug sales. Among Alkaloid’s cosmetics, Becutan, a cream for children’s skin care, is the most well-known in the region, with 100 million boxes sold to date, making it the third best-selling brand in the former Yugoslavia, behind Johnson & Johnson and Nivea. Alkaloid’s organic teas have also achieved great success in the US market. They are tailored to target groups and have added value, with box prices ranging from 17 to 50 dollars, and their sales are growing by about 60 percent annually.

Alkaloid exports more than 60 percent of its production to over 30 countries worldwide and is the largest exporter in Macedonia, as well as the sixth largest pharmaceutical company in Southeast Europe. It has 14 subsidiaries and four representative offices in countries of the region, the EU, Russia, Ukraine, Turkey, and the USA. Alkaloid is owned by 5,100 shareholders, 92 percent of whom are domestic, and eight percent are foreign investment funds. It is one of the fastest-growing pharmaceutical companies in the region. Alkaloid is also the largest company by value on the Macedonian stock exchange, valued at 138 million euros. In the last ten years, it has grown two and a half times, and over the past 15 years, 110 million euros have been invested in the company’s development. Among other things, a chemical laboratory has been opened in Ljubljana, where part of the product analysis for sale in the EU market is conducted, and Alkaloid possesses all the most important certificates.

The latest investment in the Quality Testing Center is ongoing and is worth ten million euros. In recent years, this company has opened about 100 new jobs annually, and this year revenue is expected to increase by about seven percent.

From January to June 2016, Alkaloid had a four percent increase in sales and an eight percent increase in net profit.

Total sales from January to June 2016 amounted to over 68 million euros, four percent higher compared to the same period last year, with an increase in exports of five percent. According to the unaudited profit report, earnings before interest, taxes, and depreciation (EBITDA) of 9.7 million euros increased by eight percent, and consolidated net profit of 5.3 million euros also rose by eight percent.

According to the unaudited separate profit report, sales from January to June 2016 amounted to 52.6 million euros, representing a six percent increase compared to the same period last year. Earnings before interest, taxes, and depreciation (EBITDA) of 9.5 million euros increased by nine percent, while net profit also rose by nine percent.

Total investments in fixed assets for the period from January to June 2016 amounted to 5.6 million euros.

Among Alkaloid’s partners are large global pharmaceutical companies such as Hoffmann La Roche, Pfizer, Sandoz, etc., and

Alkaloid also produces private labels for some markets, including for Belupo, for which it produces products for third-country markets.

– The pharmaceutical industry, particularly the generic sector like ours, is a dynamic industry that requires constant investment in development as we need larger production capacities. Our first priority is the regional market, followed by the EU and Russia, then the USA, and finally the Arab countries. Our goals include opening new markets, increasing production capacity, and acquiring companies in the EU area. Negotiations are ongoing; we have also talked to several smaller companies from Croatia, but we did not ‘find common ground’ – says Živko Mukaetov, CEO of Alkaloid and its largest shareholder.

This company is also socially responsible; in 2007, the ‘Trajče Mukaetov’ foundation was established, which annually scholarships 20 students of pharmacy and medicine and employs the best among them in the company.