Israeli giant Teva, world leader on the generic drugs market, has placed Romania on its list of priorities for the next few years for Central and Eastern Europe.
The company targets sales worth 60 million dollars within the next three years and also a position among the top five companies on the domestic market.
"Teva is interested in developing on the domestic market and gaining market share. So far, in 2007, we have launched 20 new products onto the domestic market, however, the bulk of new products will come next year," said Dana Stanciulescu, country manager of Teva Pharmaceuticals SRL.
Teva intends to achieve its goals by expanding its product portfolio. However, if this proves insufficient, it will also consider greenfield investments or the acquisition of domestic producers.
"In case we do not achieve these targets through our product portfolio and through Teva's strategy on the Romanian market, we will consider the possibility of an acquisition or a greenfield investment," specified Dana Stanciulescu.
Last year, the Israeli group took its first step on the Romanian market, when it set up Teva Pharmaceuticals SRL, a company that handles the Israeli group's marketing and promotional activities in Romania. As of 2008, this limited liability company will also deal with drug imports.
This year, Teva launched drugs for the treatment of cardiovascular, neurological, psychiatric, dermatological disorders and cancer. This year, 10 out of the 20 products launched by the Israeli group onto the domestic market were drugs related to the treatment of cancer.
"In 2007, we expect sales worth 16 million dollars, at drugstore prices. If we consider the sales posted by the top five generic drug manufacturers, we should expect to derive as much as 60 million dollars within the next three years," added Dana Stanciulescu.
Before the company's domestic representative office opened, Teva had two drugs on the domestic market, one used in the treatment of osteoporosis and the other for the treatment of multiple sclerosis; both distributed by Valmedica.
These two products alone brought Teva sales worth over 12 million dollars in 2006.
Last year, Teva covered 52% of the market of drugs for the treatment of osteoporosis and 22% of the market of drugs for the treatment of multiple sclerosis.
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