Влиянието на глобалните икономически кризи върху пазарния дял на "Sopharma" AD в България (2007–2025): анализ на конкуренцията и експорта
The Impact of Global Economic Crises on The Market Share of "Sopharma" JSC in Bulgaria (2007–2025): An Analysis of Competition and Export Performance

Author(s): Dani Yakubov
Subject(s): Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Sopharma JSC; pharmaceutical market; global crises; export performance; market share
Summary/Abstract: This report examines the impact of global economic crises on the market share of “Sopharma” JSC in Bulgaria and on the share of exports in the company’s total revenues over the period 2007–2025. The analysis is structured into four sub-periods: the global financial crisis (2007–2009), the post-crisis recovery (2010–2019), the COVID-19 pandemic (2020–2021), and the inflationary/energy-intensive environment preceding Bulgaria’s planned euro adoption (2022–2025). The study applies a combined methodological approach, drawing on corporate reports, IQVIA market data, national and European statistical sources, and EU institutional documents. Trend analysis and comparative evaluation across time periods are used to assess the sensitivity of domestic sales and exports to external shocks and regulatory changes. The results show that the Bulgarian pharmaceutical sector demonstrates relative anti-cyclicality, with Sopharma maintaining or increasing its domestic market share during periods of crisis. In contrast, exports respond more strongly to currency exposure, supply-chain disruptions, and regulatory shifts. During the COVID-19 period, domestic sales surged while exports declined, illustrating heterogeneous market reactions. After 2023, export performance improved in line with regional demand recovery. The upcoming euro adoption in 2026 is expected to reduce transaction costs and currency risk, though it may tighten pricing controls. Overall, the findings indicate stable domestic competitiveness but higher volatility in international markets. Sopharma remains a robust producer with diversification potential, yet exposed to regulatory pressures and global uncertainties that shape long-term strategic positioning.

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