With a network that numbers 94 drugstores, Mihai Miron, founder of Europharm, is set to become a top ten player in pharmaceutical retail, alongside competitors such as Sensiblu, HelpNet, Centrofarm, and Dona.
The new Ropharma company, the result of a merger with Farmaceutica Aesculap, Bacau-based Medica and Brasov-based Global Pharmaceuticals, will include 94 drugstores and eventually operate under the name Ropharma when the merger is finalised.
Currently, the drugstores operate under the brands Iassyfarm, Medica, Aesculap and Global Pharmaceuticals, which are located in counties such as Iasi, Mures, Bacau, and Brasov.
"Currently, we own 94 drugstores and 5 warehouses. The drugstores operate under different brands, however, after the merger we intend to bring them together under one brand," said Alin Radasanu, economic manager of Ropharma.
The completion of the merger process, which is expected to take place in the coming two months, will establish a company with an estimated turnover worth 90 million euros for 2008 (up 20% on 2007), as well as a leading drugstore network on the Romanian market.
However, Ropharma has yet to open a drugstore in Bucharest. "Our main objective is to increase our network. We intend to reach 100 drugstores by the end of the year," added Radasanu.
Last year, around 43% of overall sales were derived by drugstores, whilst the rest were generated by imports and distribution activities. In the wake of the merger, the company will recruit 650 people, and the Board of Directors will decide on the right person to run the new entity.
Mihai Miron, who controls Ropharma, is one of the most popular, but discreet, entrepreneurs in the pharmaceutical industry, best known for establishing and then selling the Europharm group, in one of the biggest deals on the market.
Mihai Miron founded Europharm in 1992, but sold the majority stake in two stages to GlaxoSmithKline, currently the biggest player on the pharmaceuticals market.
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