The topic of this thesis is the analysis of the COVID-19 impact on the business position and performance of the selected companies from the telecommunication and pharmaceutical industry. Specifically, analyzed companies include Croatian Telecom PLC & A1 Croatia LTD from the telecommunication industry and Pliva Croatia & and Hospira Zagreb LTD from the pharmaceutical industry. These two industries were chosen because of the high impact of the pandemic and great importance in the last eighteen months. The beginning of the paper presents a theoretical framework in which are listed terms that are necessary for understanding such as the impact on the Croatian economy, Government measures to suppress pandemic, and National plan of recovery and resistance. Also, this part includes a theoretical analysis of the previously mentioned industries with an emphasis on the legislative framework, structure, and key characteristics with the general impact of the pandemic. In the second part of this paper, the analysis of the Croatian telecommunication and pharmaceutical industry has been conducted using horizontal and structural financial reports and indicators related to liquidity, indebtedness, activity, cost-effectiveness, and profitability. The results of the conducted analysis showed that COVID-19 had a positive impact on both industries, but the intensity differs from company to company – on some, it is reflected through the increase of liquidity and decrease of indebtedness and on some through the increase of profitability, etc. Also, three out of four analyzed companies operate safely and successfully, while only A1 Croatia LTD has problems with their business operations. Furthermore, in both industries, there is a trend that shows a growth of the average net wages. Croatian Telecom PLC & Pliva Croatia LTD with their business operations continue to prove why they are market leaders in their industries and one of the most important subjects in the economy of Croatia.