Advent wants to turn LaborMed into a local pharma market leader

The company has also presented its new management team, made up of Briton Stephen Stead, Chief Executive Officer of LaborMed Pharma, Mircea Ilie, Chief Financial Officer, and Adrian Stroilescu, who takes over as Development Manager.

Established in 1991 by a group of Romanian physicians and pharmacists, the Bucharest LaborMed Pharma company has a portfolio of 80 generic drugs, a sales team, its own distribution, and one of the most modern production facilities in Romania in the form of a €10 mln factory.

Advent International was founded in 1984, and is one of the world’s largest private equity companies, with a cumulated capital of $12 bln (€7.8 bln). Advent also carried out an investment on the local pharmaceutical market, with Terapia Cluj Napoca, which it subsequently sold to the Indian Ranbaxy company.