site.btaState-Owned Commercial Drugs Manufacturer Reports Loss of BGN 572,000 as of End-2025
The state-owned commercial corporation BulBio, which manufactures vaccines and serums, reported a loss of BGN 572,000 as of December 31, 2025, despite having posted a profit of nearly BGN 46,000 in 2024, Minister of Health Katya Ivkova told reporters on Friday. The Minister presented data on the revenues, expenses, and debts of some state-owned hospitals, as well as on the compensation of their directors.
By comparison, BulBio's profit in 2021 was BGN 8 million, she added. Unrealized exports amount to over BGN 9 million. BulBio's CEO reported that exports were delayed due to postponed deliveries from UNICEF, Indonesia, and Vietnam, and that the products are currently in storage. An audit team found that the company's internal rules do not regulate payments related to debt management.
Ivkova said: "The World Health Organization (WHO) is also inspecting BulBio's laboratories and has made observations, the findings of which we are awaiting. We have requested further clarification from the company's director not only regarding its obligations but also regarding the rectification of the shortcomings identified in the WHO's recommendations."
/TM/
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