After the first quarter when it posted RON100 million (EUR24 million) in turnover, the performance is in line with initial estimates.
“We’re upbeat about achieving these figures. Despite some changes, we are making up through opening new retail outlets,” said Mihai Miron, Ropharma chairman.
Thus, Mihai Miron is building a new major player on the Romanian pharmaceutical market, after it created and later sold Europharm, a business focused on medical drugs production, which also had distribution and retail operations.
A pharmacist by training, Miron was among the first Romanian entrepreneurs to clinch a deal with a multinational, by selling Europharm to UK drug maker GSK in 2000. After this sale, Miron kept a low profile, but has recently had a strong comeback through Ropharma.
While the company has both drug production operations and wholesale and retail operations, most of its revenues come from its network of 109 pharmacies.
Nevertheless, Miron has plans for the production segment, the business he knows best.
The entrepreneur owns a plant in the Republic of Moldova, in Chisinau, Eurofarmaco, and one in Mures, Aesculap, for which he estimates doubled sales this year from EUR2 million in 2010.
“I have repurchased 50% of Eurofarmaco shares from GSK six months ago. We have new products and we want to double turnover derived from production,” Miron said.