“My top objective for this year is to get sure the company has clear development and growth directions. The second objective is to get sure we have plans to implement these initiatives,” said Fabrizio Giombini, managing director of MSD Romania in an interview with ZF.
Merck Sharp & Dohme (MSD) came seventh in ranking of the largest pharmaceutical companies in Romania, with a 4% market share and sales of almost 470 million lei (EUR106 million) last year, according to data provided by market research company Cegedim.
Fabrizio Giombini, 50, has arrived in Romania recently, being appointed to run the Romanian business on February 1. Previously, he worked in Italy with the group he joined in 1989. His position at the Romanian company was previously held by Almin Adzovic, who is now involved in other projects outside Romania.
In 2013, drug sales stalled and for this year Cegedim expects the market to advance by 3%.
“Growth is important for pharma companies, especially for MSD, in a country like Romania, both on the short and long term. Still, it’s difficult to speak about growth as the environment is full of challenges and there is such unpredictability about the implementation of the new list of reimbursed drugs,” said the new head of MSD Romania.
Romania’s government was supposed to introduce, on April 1, an updated list of reimbursed medicines, but the project was postponed after the designation of a new Health Minister. This is not the first time the list has been delayed considering no updating has been operated for six years.
In Italy, the list is being permanently updated.
“There are some similarities between the Romanian and Italian markets, with the low level of innovation as one of them. Medicines are reimbursed, but regional authorities raise restrictions to limit down the use of these products on the market. Here, in Romania, the lack of innovation is caused by unpredictability about the list”.
In 2013, the Italian pharmaceutical market declined on the rising use of generics. On the Italian market MSD ranks sixth.
At present, MSD Romania employs 160 people and the company’s best-selling meds are from areas such as immunology, pain management and hepatitis C.
“For this year, we expect growth similar with that of 2013 as we had to delay the launch of new products by yearend,” specified Giombini.
As regards the objective of reaching top five in the next five years, Giombini explained that beside maximizing the current portfolio he also counts on new launches.
On the Romanian market, MSD currently runs behind Roche, Sanofi, Novartis, Servier, Pfizer and GSK.
(English version by Catalina Apostoiu)