Sopharma Trading AD, a leading Bulgarian distributor of pharmaceuticals, is expanding into Serbia, according to a media statement of the company to the Bulgarian Stock Exchange-Sofia (BSE-Sofia).

The company plans to register a company called Sopharma Trading d.o.o. Belgrade active in the field of consultancy services related to business operations.

Sopharma Trading AD registered 5.25% year-on-year growth in its net profit in the first quarter of 2015, reaching a rate of BGN 3.571 M, according to the consolidated financial statement of the company submitted to the BSE-Sofia.

At the same time, sales revenues went up by 6.33% on the year to BGN 153.079 M.

The company says that it has chosen the Serbian market because it has been described as one of the most prosperous markets for investments in Central and Southeastern Europe in a number of surveys, including by the United Nations Conference on Trade and Development (UNCTAD).

The subscribed capital of the Serbian unit of Sopharma Trading amounts to RSD 11 M (around BGN 162 177), according to the media statement of the company, as cited by investor.bg.

The Serbian unit of the Bulgarian drug distributor will be managed by Milos Ristic.

The main activity of Sopharma Trading is related to the retail and wholesale sale of pharmaceuticals, sanitary products, food supplements, and cosmetics.

The company boasts 100% national coverage and four distribution centers, including in Sofia, Varna, Plovdiv, and Veliko Tarnovo.