Romanian largest pharma distributor asks for local pharmacy network insolvency

Mediplus Exim, the biggest pharmaceutical distributor in Romania, owned by pharmaceutical distribution and retailer group A&D Pharma, has asked for the insolvency of pharmacy network Centrofarm, according to legal information quoted by Dailybusiness.ro. Centrofarm network registered a EUR 23.8 million turnover and EUR 2.7 million losses last year. The company's debt amounted to almost EUR 16.8 million, while receivables reached EUR 6.3 million, according to reports from the Ministry of Public Finance. Centrofarm pharmacies have a tradition of over 80 years in Romania. The company owns a network of 58 pharmacies, 37 in Bucharest and 21 in other cities, with about half of these located in shopping malls. Centrofarm is owned by local firm General Farma Invest, which is controlled by Portuguese businessman Alain Bonte. Mediplus Exim had a turnover of EUR 726 million, in 2013, and a net profit of EUR 3.6 million, according to public data from the Finance Ministry. A&D Pharma also owns a pharmacy chain, Sensiblu, which had sales of about EUR 290 million, in 2013. Sensiblu has more than 400 pharmacies in Romania. editor@romania-insider.com