Romanian Farmexpert hopes for 10% growth in business this year

Romanian pharmaceutical distributor Farmexpert expects a growth in business of 10 percent this year, up to EUR 400 million, according to the company, quoted by Mediafax newswire. The company posted a turnover of EUR 362 million in 2010. Romania’s drug market in also expected to grow by 11 percent this year, according to Farmexpert’s representatives, from a level of EUR 2.3 billion in 2010. Farmexpert was established in 1996 as a private company. In June 2006, the German concern Andreae - Noris Zahn A.G. (ANZAG) took over 60 percent of the Romanian pharmaceutical company. According to a report from the Competition Council, Romania’s drug market went up four fold from 2000 to 2009, reaching a value of around EUR 1.9 billion, and reached EUR 2.3 billion in 2010. “Although the Romanian market hosts an important number of players, the tendency on this market was towards concentration, with the first 20 companies controlling 78 percent of the market. This was mainly due to mergers and acquisitions on an international level,” according to the Competition Council’s report. See the entire report here. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)