EnglishLaborMed Pharma is aiming to become the leader of the Romanian medicine production market following the acquisition of their majority share package by the US-based investment fund Advent International.
LaborMed CEO Stephen Stead told a press conference that he expected the group"s turnover to increase approximately four-fold over the following 4-5 years to some 100 million EUR. The market share target is 5% for the next three years, considering the fragmentation of the drugs market.
The company is planning to expand to Ukraine, Russia and Turkey and also consolidate the portfolio of niche products and over-the-counter drugs. The company concluded last year with gross sales of 28 million EUR and is planning to go to 40 million EUR this year.
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