Farmexpert signs partnership with Kwizda Pharma, aims to make EUR 20 million

Newsroom 02/11/2009 | 15:16

“The plans have been made until 2015. In the next two years we want to have 10,000 active products compared to the current 8,000,” said Octavian Iacob, executive director of Farmexpert. The alliance is part of Kwizda's expansion strategy in Central and Eastern Europe. It involves EUR 400,000 of investments in medical marketing and promotion, with a target to reach a EUR 2 million turnover from the partnership in the next three years. Farmexpert made a EUR 109 million turnover in the first six months of this year. The distribution company ranked second among pharma distributors in Romania, with an 11 percent market share, according to its own data. It is 60 percent owned by Andreae Noris Zahn AG (Anzag), with the rest of the shares in the hands of Dr Eugen Banciu. Farmexpert employees 720 people. Kwizda Pharma, part of Austrian group Kwizda, is an OTC producer which posted EUR 50 million in turnover last year, with two production units and 140 employees. In Romania, it is present through Busscher & Hoffmann GmbH.
Corina Saceanu

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