PSP Pharma, one of the largest players in the pharmaceutical market of Georgia, has published its financial report for 2021. According to the document, last year the total income of the company increased by GEL 110 million to GEL 745 million.
The profit of "PSP Pharma" also increased dramatically, if in 2020 the company earned net profit of 16.6 million, in 2021 this amount increased 3.7 times to 61.8 million.
According to the consolidated report, "PSP Pharma" together with the pharmacy chain owns 100% share of "New Hospital" LLC and 50% share of "Medcapital" LLC. According to specific directions, the company's revenues are distributed as follows:
• Retail sales of medicines - 512 million GEL, an increase of 18%;
• Wholesale sales of medicines - 164 million GEL, an increase of 10%;
• Income from medical services - 64 million GEL, an increase of 34%.
According to the financial report, the cost of retail products was 389 million GEL, the cost of wholesale products was 134 million, and the cost of medical services was 57 million.
The company also had sales expenses of GEL 90 million, and administrative expenses of GEL 23.7 million.
"PSP has been operating in the pharmaceutical market of Georgia since 1994. He started his activities in Georgia in partnership with European manufacturers. Today, "PSP" imports and distributes more than 16,000 types of pharmaceutical products, medical cosmetics, hygiene products throughout Georgia," the company's management report says.
"PSP Pharma" operates with 288 pharmacies across the country. In addition, the company owns the 275-bed hospital "New Hospital".
Businessman Kakha Okriashvili owns 95% of "PSP Pharma". The assets of the company amount to GEL 581.7 million, and the liabilities amount to GEL 289 million.
