Tchaikapharma High Quality Medicines Inc.

What Tchaikapharma High Quality Medicines Inc. does

Tchaikapharma High Quality Medicines Inc. is a Bulgarian pharmaceutical company founded in 2000 and publicly traded on the Bulgarian Stock Exchange (BSE:THQM), headquartered in Sofia with manufacturing facilities in Varna and Plovdiv and a third plant under development in Kazichene. The company develops and manufactures high-quality generic and in-licensed medicines, with a domain specialization in complex generics (polypills) — fixed-dose combinations of multiple active pharmaceutical ingredients primarily targeting cardiovascular diseases, metabolic syndrome, and other socially significant conditions. Its portfolio spans over 160 medicinal products including cardiovascular polypills (Zornichka/chlorthalidone, Doxazosin-Tchaikapharma, Tamayra Plus, Ferbessa, Amaryton), antithrombotics (Rivaroxaban-Tchaikapharma, TromBay, Fluidoro, Telmira), antibiotics (Lifurox, Levor, Climox, Klacar, Ceftriaxon-Tchaikapharma), gastrointestinal treatments (LanzAcid), diabetes medications (Pizona, Semefro), and hospital pharmacy products (Remifentanil-Tchaikapharma, Cisaxa, Methylprednisolone-Tchaikapharma), plus 8 dietary supplements under the Fanfari brand.

The business model is anchored on direct pharmaceutical product sales through Bulgarian retail pharmacy chains and hospital pharmacy procurement channels, complemented by contract manufacturing services for European partners and expanding distribution into Kosovo (20+ registered products). Pricing emphasizes affordability — antibiotics are standardized at BGN 14.99 and LanzAcid at BGN 9.75/month, positioning Tchaikapharma as the most cost-effective PPI option in Bulgaria. Go-to-market combines medical representative engagement with cardiologists and hospital pharmacists, conference participation (18 consecutive years at the National Conference on Hospital Pharmacy), and content marketing through scientific publications. The company is the second-largest publicly traded company on the BSE-Sofia with a market capitalization of approximately BGN 1.7 billion (~EUR 877M) and carries a BBB- credit rating from БАКР.

Operationally, the company employs 216 people (June 2025), generated BGN 47.94M in cumulative 9-month 2025 revenue (~19% YoY growth), and BGN 6.6M in Q3 2025 net profit (51.89% YoY growth), with 2025 net profit reaching EUR 3.075M. Manufacturing investments include visual inspection equipment at the Varna plant and a EUR 14M Kazichene facility expansion approved in 2021. Regulatory assets include the first decentralized procedure (DCP) with Bulgaria as Reference Member State (Tamayra, 2016), enabling pan-EU marketing authorization pathways. The company serves Bulgarian hospital pharmacies, cardiologists, and individual consumers, with nascent geographic diversification into the Balkans via Kosovo.

Name

Tchaikapharma High Quality Medicines Inc.

Legal name

Tchaikapharma High Quality Medicines Inc.

Website

https://tchaikapharma.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

Tchaikapharma is a Bulgarian publicly traded pharmaceutical company that develops and manufactures high-quality generic medicines and complex generics (polypills), primarily targeting cardiovascular and socially significant diseases for Bulgarian hospital pharmacies, cardiologists, retail pharmacy chains, and expanding distribution into Kosovo.

Ownership category

akta.pro rank

Product category

Generic Pharmaceuticals Manufacturing

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Generic Hospital & Institutional Products (HLAIABAL)

Keywords

• Generic pharmaceuticals manufacturing
• Complex generics polypills
• Cardiovascular medicines
• Antibiotic production
• Contract pharmaceutical manufacturing

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Pharmaceutical Product Sales: Primary revenue from manufacturing and selling generic medicinal products including tablets, vials, and ampoules. Tablets hold the largest share generating BGN 36.88 million in Q3 2025. The company produces over 160 medicinal products and 8 dietary supplements.
2. Contract Manufacturing: Expanding contract manufacturing services for European partners, contributing to revenue growth.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Tchaikapharma High Quality Medicines Inc. develops and manufactures high-quality generic and in-licensed pharmaceutical products, specializing in complex generics (polypills) for cardiovascular, metabolic, and infectious diseases. The company operates manufacturing facilities in Varna and Plovdiv, producing over 160 medicinal products and 8 dietary supplements, and also offers contract manufacturing services for European partners.

Product overview

Tchaikapharma High Quality Medicines Inc. is a Bulgarian pharmaceutical company specializing in the development and manufacturing of high-quality generic and in-licensed medicines. The company operates manufacturing facilities in Varna and Plovdiv, producing over 160 medicinal products and 8 dietary supplements. The product portfolio centers on cardiovascular medicines (including polypills/complex generics like Zornichka, Doxazosin-Tchaikapharma, Amaryton, Coolsart/Koolsart, Tamayra Plus, Ferbessa), antibiotics (Lifurox, Levor, Climox, Klacar, Ceftriaxon-Tchaikapharma, MoriVid), gastrointestinal treatments (LanzAcid), diabetes medications (Pizona, Semefro), antithrombotics (Rivaroxaban-Tchaikapharma, TromBay, Fluidoro, Telmira), and anti-gout drugs (Klopasa). The company also manufactures hospital pharmacy products including anesthetics (Remifentanil-Tchaikapharma, Cisaxa) and corticosteroids (Methylprednisolone-Tchaikapharma). Dietary supplements are sold under the Fanfari brand. The company is recognized as a leading Bulgarian manufacturer of complex generics (polypills) for treatment of socially significant diseases.

Differentiator

Problem solved

Functional benefit

Brands

• Фанфари: Food supplements brand for local partners

Products and services

• Zornichka (Chlorthalidone) Thiazide diuretic (chlorthalidone) for treatment of cardiovascular diseases including hypertension and edema. Sold nearly 40,000 packages with 95% sales growth per NHIF data.
• Doxazosin-Tchaikapharma Alpha-blocker for treatment of hypertension or benign prostatic hyperplasia, with over 62,000 packs sold and largest market share in the alpha-blockers category.
• LanzAcid (Lansoprazole) Proton pump inhibitor (lansoprazole) for treatment of gastric/duodenal ulcers, GERD, and NSAID-associated ulcers, priced at BGN 9.75 for one-month treatment — the most cost-effective PPI option in Bulgaria.
• Lifurox (Cefuroxime) Antibiotic (cefuroxime 500 mg x 10 tablets) for respiratory tract infections, priced at BGN 14.99.
• Levor (Levofloxacin) Antibiotic (levofloxacin 500 mg x 10 tablets) for community-acquired pneumonia and COPD exacerbations, priced at BGN 14.99; also marketed as 5 mg/ml infusion solution.
• Climox (Amoxicillin/Clavulanic acid) Antibiotic combination (amoxicillin/clavulanic acid 875 mg/125 mg x 14 tablets) for respiratory infections, priced at BGN 14.99.
• Klacar (Clarithromycin) Antibiotic (clarithromycin 500 mg x 14 tablets) for respiratory infections, priced at BGN 14.99.
• MoriVid (Hydroxychloroquine sulfate) Hydroxychloroquine sulfate 200 mg tablets for COVID-19 treatment and autoimmune diseases (lupus, rheumatoid arthritis).
• GraVir (Chloroquine) Chloroquine product for COVID-19 hospital treatment, with 20,000 packs produced during the pandemic response.
• Tamayra Plus Fixed-dose combination (ramipril/amlodipine/hydrochlorothiazide) for hypertension treatment in adults, available in 5/5/12.5 mg, 5/5/25 mg, and 10/5/25 mg doses (ATC code: C09BX03).
• Rivaroxaban-Tchaikapharma Antithrombotic agent (rivaroxaban) in 10 mg, 15 mg, and 20 mg film-coated tablets for prevention of blood clots after joint replacement surgery and treatment of DVT/pulmonary embolism (ATC code: B01AF01).
• TromBay (Cilostazol) Vasodilator and antiplatelet agent (cilostazol 100 mg) for intermittent claudication (ATC code: B01AC23).
• Fluidoro (Prasugrel) Antiplatelet agent (prasugrel 10 mg) for prevention of atherothrombotic events, used with acetylsalicylic acid (ATC code: B01AC22).
• Semefro (Sitagliptin/Metformin) DPP-4 inhibitor and biguanide combination (sitagliptin/metformin 50 mg/850 mg and 50 mg/1000 mg) for type 2 diabetes treatment.
• Methylprednisolone-Tchaikapharma Corticosteroid (methylprednisolone 40 mg) powder and solvent for injection solution.
• Telmira (Ticagrelor) Antithrombotic drug (ticagrelor) in 60 mg and 90 mg film-coated tablets for prevention of atherothrombotic events with acetylsalicylic acid.
• Ferbessa (Perindopril/Amlodipine) ACE inhibitor and calcium antagonist combination (perindopril/amlodipine 4 mg/5 mg and 8 mg/5 mg) for hypertension treatment.
• Klopasa (Colchicine) Anti-gout medication (colchicine 0.5 mg) for acute gout attacks, chronic gout, and familial Mediterranean fever prophylaxis (ATC code: M04AC01).
• Amaryton (Flecainide acetate) Antiarrhythmic (flecainide acetate) in 50 mg, 100 mg, 150 mg, and 200 mg extended-release capsules for AV nodal reciprocal tachycardia and Wolff-Parkinson-White syndrome.
• Pizona (Pioglitazone) Thiazolidinedione (pioglitazone) in 15 mg, 30 mg, and 45 mg tablets for type 2 diabetes treatment.
• Bilamcar Fixed-dose combination in 8 mg/5 mg and 16 mg/5 mg hard capsules, marketed in Kosovo.
• Ceftriaxon-Tchaikapharma Antibiotic (ceftriaxone) in 1 g and 2 g powder for injection/infusion solution, marketed in Kosovo.
• Tamayra Hard capsules 5 mg/5 mg — the company's first decentralized procedure (DCP) authorization with Bulgaria as Reference Member State.
• Cisaxa (Cisatracurium) Neuromuscular blocking agent (cisatracurium 2 mg/ml) injection/infusion solution for surgical procedures.
• Remifentanil-Tchaikapharma Opioid analgesic (remifentanil) 1 mg and 5 mg powder for injection/infusion used with anesthetics.
• Koolsart (Coolsart) Olmesartan medoxomil and hydrochlorothiazide fixed-dose combination 20 mg/12.5 mg, 20 mg/25 mg, 40 mg/12.5 mg, 40 mg/25 mg film-coated tablets for hypertension treatment.
• Contract Manufacturing Services Contract manufacturing services for European pharmaceutical partners, including production of dietary supplements under the Fanfari sub-brand for local partners.

Quantifiable outcome

• 95% increase in packages sold for Zornichka (chlorthalidone) - reaching 40,000 packages
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered core, minor and growth.

• Bulgarian Association of Hospital and Clinical PharmacistscoreStrategic or Co-development Partner · 20 October 2024Annual participation in National Conference on Hospital Pharmacy (18th consecutive year). Tchaikapharma presents products for treatment of socially significant diseases to hospital pharmacists from across Bulgaria.
• Foundation Academy-CardiologycoreGTM or Marketing Partner · 12 May 2023Gold partner in second scientific conference 'Fundamentals of Cardiovascular Pharmacotherapy - Combination Therapy' in Sofia. Company recognized as leading manufacturer of combined medicinal products (polypills) for cardiovascular system.
• Municipalities (Humanitarian)minorOthers · 15 March 2022Donated medicines to Ukrainian city of Nikolaev through Bulgarian municipality of Pleven. Provided antiviral medications and other medical supplies as humanitarian aid.
• Kosovo Market PartnersgrowthChannel Partner/ Reseller/ Distributor · 26 November 2021Over 20 registered products in Kosovo including Bilamcar and Ceftriaxon-Tchaikapharma. Products such as Tamayra, Co-Telsart, Amariton, and Rosta are preferred choices among Kosovan cardiologists.
• Bulgarian Pharmaceutical UnioncoreGTM or Marketing Partner · 3 August 2012Received thank you letter from Bulgarian Pharmaceutical Union for support during 'Bulgarian Pharmaceutical Days 2012' forum. Supported professional pharmacy events.
• Търговска Лига – Глобален Аптечен ЦентърcoreChannel Partner/ Reseller/ DistributorKey distribution partner for Tchaikapharma products including MoriVid (hydroxychloroquine), TromBai, Methylprednisolone-Tchaikapharma, and other medications. Handles distribution to pharmacy networks across Bulgaria.
• European Partners (Contract Manufacturing)growthStrategic or Co-development PartnerExpanding contract manufacturing for European partners. Also expanding production of dietary supplements for local partners under Fanfari brand.

Scale indicators10 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• Alvogen: US-headquartered but with significant Central/Eastern European operations and a generics portfolio spanning cardiovascular, CNS, and other areas. Comparable as a CEE-active generics manufacturer competing for hospital and retail tenders across the region.
• KRKA: Slovenian generic pharmaceutical manufacturer with a strong CEE presence and broad portfolio including cardiovascular products. Comparable as a CEE-headquartered generics manufacturer expanding across multiple European markets via contract manufacturing and branded generics.
• Sopharma AD: Bulgaria's largest pharmaceutical manufacturer, listed on BSE, producing generics and original medicines across cardiovascular, respiratory, and pain therapeutic areas. Direct domestic competitor to Tchaikapharma across hospital pharmacy procurement and retail pharmacy chains in Bulgaria.
• Polpharma Group: Polish pharmaceutical manufacturer and one of the largest generic drug producers in CEE, with broad cardiovascular and metabolic disease portfolios. Comparable as a regional generic manufacturer serving CEE hospital and retail channels.
• Gedeon Richter Plc. Hungarian pharmaceutical company with significant generic and branded pharmaceutical operations across CEE and Western Europe. Comparable as a Central European generic manufacturer with cardiovascular focus and established multi-country distribution.
• Zentiva Group: European generic pharmaceutical company headquartered in Prague with strong CEE manufacturing footprint and broad cardiovascular/generic portfolio. Direct peer in CEE generics manufacturing and multi-market distribution.

Broad incumbents

• STADA Arzneimittel AG: Major European generics and consumer healthcare company with extensive CEE operations including Bulgaria. Comparable as a broad incumbent in generic pharmaceuticals across cardiovascular and other therapeutic areas in the same markets Tchaikapharma serves.
• Sandoz (Novartis): Global generic pharmaceutical company spun off from Novartis, with a broad portfolio including cardiovascular generics and a substantial European footprint. Comparable as a broad incumbent offering competing generics in the same therapeutic categories and channels as Tchaikapharma.
• Viatris (Mylan): Global pharmaceutical company with a substantial generics portfolio including cardiovascular therapies and active in European markets. Comparable as a broad incumbent offering overlapping generic cardiovascular products across the same regulatory and reimbursement systems.
• Actavis (Teva): One of the world's largest generic pharmaceutical manufacturers, with extensive CEE operations and a broad cardiovascular/generic portfolio. Comparable as a broad incumbent competing across retail and hospital channels in Tchaikapharma's therapeutic focus areas.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tchaikapharma-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tchaikapharma High Quality Medicines Inc.