Terapia managers move to Advent

Autor: Delia Budurca | Sursa: Standard.ro | Publicat: 19 iun 2008, 00:00

The Advent International investment fund has introduced Terapia pharmaceutical company managers to Labor Med pharmaceutical company, after its takeover of the latter company. The investment fund previously owned Terapia, prior to selling it to Ranbaxy.

ARTICOLE Delia Budurca

Delia Budurca

Stephen Stead was appointed Labor Med Chief Executive Officer (CEO) in March 2008. The company’s new Chief Financial Officer (CFO) is Mircea Ilie, while Adrian Stroilescu is the drug maker’s new Development Manager. Other former Terapia managers have also been appointed to key positions. Stead plans to increase Labor Med’s market share by 50 percent, to launch new products, and to improve production in an effort to minimize costs. In the past two months, the new CEO has restructured the client relation area, and the company is planning sales in 2008 worth €40 million.

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