The business of pharmaceutical companies is highly complex since it is a highly regulated industry with the goal of production of medicinal products that need to meet extremely high quality requirements. In order to keep up with the latest technology and increasingly stringent requirements, continuous investments are needed, which are not possible if the company doesn’t have sufficient liquidity. The liquidity of pharmaceutical companies is particularly complex if viewed through the prism of debt collection. The goal of this thesis is to analyse debt collection of ten leading pharmaceutical companies according to the revenue criteria from 2019. Publicly available financial reports are analysed, along with financial indicators of business safety and success. Such analysis aims to gain an overall insight into the business performance of pharmaceutical companies with an emphasis on the duration of debt collection as one of the important indicators of the activity. Every business cycle starts and ends with cash. Pharmaceutical companies constantly need to have enough liquidity to maintain their business operations. Under the conditions of long debt collection deadlines, which all collections that occur after 60 days are considered as, the management is required to be dexterous in managing the company's liabilities. The aforementioned is sought to be moderated by quality planning of working capital in order to amortise the uncertainty of debt collection. In the Republic of Croatia, pharmaceutical companies do business with legal entities that have a license for wholesale distribution of medicinal products, namely wholesale pharmacies that buy medicinal products from domestic or foreign manufacturers of medicinal products. Health institutions are still not able to regularly meet their obligations, which are ultimately settled by the Government or the Ministry of Finance. Despite the fact that debts to the observed pharmaceutical companies were paid within 60 days only in 10 % of cases, and in 64 % of cases the collection was realized even after a wait of 61 to 180 days, pharmaceutical companies operated profitably in most business years.