Year 2019 was marked by various challenges in the geopolitical currents and these challenges inevitably translated into the national economy performances both. The business results of Alkaloid as well as the economic climate in our country cannot be perceived separately from the global trends and the events in the region.


Despite all objective and subjective challenges, the company managed to generate positive financial results in its operations employing extraordinary efforts and precautions in its everyday operations.

We achieved total consolidated sales of MKD 11.102.808.123, which represents a growth of 13% compared to last year. Our individual net profit amounted to MKD , growing 18%.

35% of our sales were effectuated in the domestic market, whereas 65% were export sales, out of which 33% intended for the SEE markets, 20% for the Western European markets, 9% for Russia and CIS and 3% were for the remaining markets.


According to the records of the Macedonian Stock Exchange, the shares of Alkaloid in the course of 2019 were once again amongst the most traded and the most liquid ones.

Alkaloid AD Skopje, as one of the leading companies on the Macedonian Stock Exchange, in the regular stock exchange operations participated with traded MKD 858.143.446, which is 16.61% of the total turnover recorded on the first official market of the Stock ExcThe share price of Alkaloid AD Skopje ranged from MKD 8.200 to MKD 11.901, with an average of MKD 9.501, which represents a growth of 18.11% of the average price of the share compared to 2018.


2019 was also marked with the trend of expansion of the marketing authorizations and initiation of new projects. Alkaloid did more than 59 out-license and in-license projects worldwide. We obtained 131 marketing authorizations for pharmaceutical products and 347 for medical devices and food supplements.


In line with the company policy for continuous investments, we remained firmly on the track during 2019 too. Investments in production facilities, research and development, new technologies, know how, qualified personnel and entry into new markets will remain high on our agenda.

In 2019, the overall investments of the Company amounted to 1.091.632.000 MK Denars.

Some of the major investment projects during the year included adapting and upgrading the pharmaceutical production facilities for solid dosage forms, increasing the share capital in our subsidiaries in Belgrade and Ljubljana as well as initializing an energy efficiency project for gasification of our production site in municipality of Gjorche Petrov.


Socially responsible activities, as one of the company’s main features and top priority in the operative agenda, continued with strong intensity in the course of 2019.

Ninth year in a row, the employees of the company, under the auspices of the Foundation “Trajche Mukaetov” joined together in another charity event to raise MKD 1.255.844 intended for the Citizens’ Association O2 Initiative for environmental protection.

Twelfth year in a row, the Foundation “Trajche Mukaetov” grants scholarships to talented students of medicine and pharmacy at the state university “Sts. Cyril and Methodius”. Seventy-nine of the 500 scholarship holders (74 graduated students in pharmacy and 5 in medicine), already started their careers at Alkaloid in the departments of the profit center Pharmaceuticals.


The uncertainty of the year to come is a great challenge and responsibility that all management bodies and the overall personnel at the company should bear. The economic progress, according to certain forecasts will once again be in the shade of the geopolitics. We expect to face many challenges both, locally and globally. Having all that in mind, we must be more flexible, respond rapidly, and always be prepared to take the smartest decisions. We must adapt to all the changes: as individuals, with our teams and as company in general. Alkaloid aims to remain an outstanding example of superior quality of processes, well trained and motivated staff, standards that are compatible with world regulations in industry and products that are highly competitive and legitimately present in nearly 40 countries worldwide.

Zhivko Mukaetov
CEO/MB President