Financial analysis involves the use of various financial reports. Basic financial reports are the balance sheet, profit or loss report, cash flow report, report of changes in equity and notes to financial reports. These reports are compiled for business operations during, a certain year, ie at the end of the year. In this final thesis, a comparative analysis of the business operations of pharmaceutical companies was made on the basis of the financial reports with special emphasis on Jadran galenski laboratorij, whose business was compared with other pharmaceutical companies (Pliva, Belupo, Hospira and ACG Lukaps). The analysis was carried out on the basis of the financial reports for the period 2012 to 2016. The analysis were carried out horizontally and vertically. Horizontal analysis has determined the tendency and dynamics of changes in the individual positions of the financial reports. By vertical analysis, dana comparison was compiled in one year, giving an insight into the structure of the financial reports. Also presented are important financial management indicators. Based on the results obtained data processing was performed and trends in business status were determined. Throughout this work, it is determined how the company Jadran galenski laboratorij operates in, a relationship to Pliva and Belupo, respectively what is the financial condition of Jadran galenski laboratorij and does it operate more successful then those companies and what are his potential on the market in, a relationship with competitors.