Jun 04

PharmaS finalizes acquisition of Cipla Croatia

ZAGREB, 22nd January 2018. –  This Friday a pharmaceutical company PharmaS finalized the acquisition of Cipla Croatia d.o.o., a Croatian affiliate of global pharmaceutical company Cipla Limited, India. PharmaS reached the agreement with Cipla Holding BV, Netherlands, subsidiary of Indian global company Cipla. By this agreement, PharmaS acquired one hundred percent shares in Cipla Croatia d.o.o. for $ 1.1 million.

With this strategic acquisition, PharmaS gains access to a vast number of products which are already on the market or in the final phase prior to the launch, developed by Cipla India, the company with enviable research and development capacities. This is confirmed by its presence on numerous markets including USA, Europe, South Africa, India and other rapidly growing markets. By this acquisition PharmaS will positions itself as one of the leading players in the respiratory diseases therapeutical segment in Croatia. The result of this acquisition is a stronger and more competitive PharmaS, well positioned for the continuation of its growth on regional markets, providing top quality generic medications, all with a goal to create the additional value for patients, healthcare system and its partners.

Divestment of the Croatian subsidiary is a part of Cipla’s strategy to change its business model in Europe.

Cipla has changed its business model in most countries across Europe, moving from direct market to B2B model. This move should support the stronger growth of its business in Europe which currently contributes about 4% to its gross income.

At the end of 2015 PharmaS entered the hospital segment of prescription business and after entering the Consumer healthcare (CHC) in 2013, achieved another important step towards its strategic goals. In 2017 PharmaS Group achieved the sales growth of 30% comparing to 2016 and finalized the financial stabilization of the business. By intensive launching of new products, more than 60 of them in 2017, PharmaS is focusing to business expansion in the prescription and CHC business in the region and on international markets.