“We’re seeking opportunities, but there is nothing concrete so far. It can be either domestic production or a takeover of brands from another company. We haven’t set a threshold, we’re simply scanning the market, assessing,” Grecu told Ziarul Financiar in an interview.
Adrian Grecu, 43, took over the position the general manager position at Established Pharmaceuticals Division of Romania in December 2011 after an international experience at the same company. Previously, he filled positions such as India Commercial Operations head at Abbott Laboratories or Russia, India China Area and CIS Area commercial integration head in Singapore.
In Romania, Abbott ranks 19th among the largest pharmaceutical companies, with a 1.6% market share and sales of nearly 186 million lei (EUR42 million) in 2013, according to Cegedim Romania data.
Grecu says the company’s target for 2014 is to achieve sustained growth, and not to aggressively increase market share. “We want at least to maintain our market share and grow in line with the market”.
Asked whether the pharma market will grow (in 2013 sales stalled), Grecu answered he’s drawing up various scenarios.
The company has over 20 brands in its portfolio and the most important therapeutic areas for it are the cardiovascular, gastrointestinal and central nervous system ones. The company also has products on the segment of antibiotics and pain management.
Adrian Grecu returned to Bucharest in December 2011 after spending more than three years in Singapore, where he was in charge of commercial activities in Russia, India and China.
Grecu says that the Russian market resembles the Romanian one, with part of it being funded by the state and another one directly by patients.
After he ended his term in Singapore, Adrian Grecu returned to Romania and he states that the general manager role is one of the steps followed to grow in a multinational.
(English version by Catalina Apostoiu)