The Republic of Croatia is facing the global issue of an aging population, which greatly affects the trend of a growing demand for pharmaceutical products - medicines. Three leading pharmaceutical companies, namely “Pliva Hrvatska d.o.o.”, “Belupo d.d.” and “Jadran-Galenski Laboratorij d.d.”, currently stand out in the domestic market. This thesis analyzes the business activities of each company based on its published annual financial reports over a four-year period, focusing on balance sheets and income statements. A vertical analysis was conducted on the basis of structural financial statements with the aim of establishing the structure of assets, liabilities and income statements. Horizontal analysis on the other hand – based on comparative financial statements – represents the trend and changes in individual line items, i.e. their growth or decline in value, expressed in both absolute (figures) and relative (percentage) form. Financial indicators of liquidity, indebtedness, activity, profitability and economic ratios were used to measure the safety and performance of top Croatian pharmaceutical companies. Finally, the calculated data revealed that “Pliva Hrvatska d.o.o.” ranks first in terms of the value of its assets and income. All three companies have a positive cash flow in operating activities, while it varies in financing activities. Nevertheless, the economic ratios of their total business show a positive value. The problem that every company faces is the limitation period for the recovery of claims, which is still above average despite its declining trend. Moreover, the lack of revenue in the domestic market is compensated by companies' exports, so foreign income occupies a larger share in the structure of total income.