Alkaloid AD Skopje: A synonym for continuous growth and stable profitability

Alkaloid AD Skopje continues to confirm its position as a leader in the pharmaceutical sector in North Macedonia.

With continuous growth in revenue and profit over the past five years, the company proves its stability and strategic vision for sustainable profitability , as well as its high positioning within the 200 LARGEST AND SUCCESSFUL.

Thanks to the positive results in 2024, with a total revenue of 14,032,427,426 denars and a profit before tax of 1,872,306,460 denars , Alkaloid ranked fifth on the ranking list of the most successful Macedonian companies and 9th on the ranking list of the largest Macedonian companies.

Compared to the previous year, Alkaloid in 2024 recorded stable revenue growth of 8.81% and profit growth of 13.35%.

Increased sales and increased exports in 2024

In the period January - December 2024, Alkaloid achieved consolidated sales of 308,9 million euros, of which 210,5 million euros were realized through exports, as well as investments in the amount of 23,3 million euros.

The company is recording growth both in the domestic market and in total consolidated exports, which increased by 14%.

"Of the total consolidated sales, 32% were realized on the domestic market, and 68% on foreign markets. Viewed by regions, 27% of total consolidated sales were realized in Southeast Europe, 22% in Western Europe, 18% in Eastern Europe, and 1% in other markets," the company informed.

The most dynamic growth among export markets was recorded in Cyprus, where sales increased ninefold, as well as in Lithuania, with a two-and-a-half-fold increase.

According to the sales structure, the pharmaceutical segment dominates with a 91% share in total consolidated sales, while the chemistry, cosmetics and herbal medicine segment accounts for 9%.

Capital investments in 2024 as well

In addition to seeing growth in sales and exports, Alkaloid AD also completed several capital investment projects in 2024.

The company has completed its largest investment project in the past two decades – the new Tablet Department 2.0 production facility, covering an area of 6,200 m², with a total investment of 19,4 million euros.

Total investments in fixed assets in the period January - December amounted to 1,435,215 thousand denars.

The company continued its international expansion with the registration of a new company in Croatia – "Alkaloid Pharma International" DOO Zagreb, as well as a new capital-affiliated company in Kazakhstan – "Alkaloid Kazakhstan" DOO, headquartered in Almaty, which represents the 26th capital-affiliated company within the group.

How was Alkaloid listed over a period of five years?

With a strong vision, stable growth and a focus on sustainable profitability, Alkaloid AD Skopje continues to be an example of a successful and modern business that continuously brings results for its partners, clients and employees.

In the period from 2020 to 2024 , the revenues of AD Alkaloid increased from 9,6 billion to 14 billion denars , while profit reached 1,87 billion denars , demonstrating a commitment to optimization, operational efficiency and continuous investment in product quality.

"Our goal has always been to provide the highest quality pharmaceutical products, maintaining stable growth and profitability. Continuous investment in human capital and new technologies allows us to respond to all market challenges," the company emphasizes.

The number of employees is continuously growing – from 1,737 in 2020 to 2,209 in 2024 , which is an indicator of increased operational capacity and commitment to team development.

With this, Alkaloid not only strengthens its leadership in the domestic market, but also deepens its presence in international markets.

Continued growth in 2025

While we are still awaiting official data from the Central Registry of North Macedonia, Alkaloid emphasized that during 2025 it achieved sales of 339,3 million euros and a profit of 29,2 million euros .

According to the official report on the work in the period January-December, total consolidated sales increased by 10 percent compared to the previous year , while exports to foreign markets amounted to 221,6 million euros .

In the sales structure, 65 percent of products are placed on foreign markets, while the remaining 35 percent are sold domestically.

The Macedonian market has recorded a growth of 20 percent, which is largely due to the provision of modern therapies for public health through the representation of world-renowned manufacturers.

In terms of exports, the greatest progress was recorded in Sweden and Austria, where sales increased fourfold, and in the Netherlands by threefold. There was also significant growth in the markets of South Africa, Kazakhstan, Finland and Germany.

The largest share of consolidated sales, as much as 91 percent, falls on the pharmaceutical segment. In this group, antibiotics are the most represented with 23 percent, followed by over-the-counter (OTC) drugs with 18 percent, as well as neurological and cardiological preparations. The remaining 9 percent of sales relate to the chemistry, cosmetics and herbal sectors.

The company continues to implement its 20-year investment plan.

During 2025, a new microbiological quality control laboratory was put into operation, equipped to perform around 20,000 analyses per year.

Total investments in fixed assets for the past year amount to over 1,1 billion denars. These funds are directed towards the modernization of the plants for the production of semi-solid forms, drug packaging and new warehouse space.

The group currently has 3,018 employees, of which 2,234 are engaged in the country. Over the past year, 54 new jobs have been created, and all employees were paid a vacation allowance in the net amount of 44,500 denars in March.

With these results, it is clear that Alkaloid AD continues to ensure a high positioning among the most successful Macedonian companies and maintains its place as a leader in the pharmaceutical industry.