Glenmark is considering an acquisition in Romania, in spite of the crisis

“The financial crisis has a relatively limited influence on the pharmaceutical market in general, and on Glenmark’s activities in particular. This is mainly due to the company’s financial power at global level and the profile of pharmaceutical products,” said Mariana Wencz, Country Manager at Glenmark.

Wencz added that Glenmark continues to be interested in acquisitions, and is in the full process of assessing opportunities in Romania and in the region. The company, which entered the local market in the spring of 2007, will continue to invest significantly in Romania in the coming 2-3 years, estimating to reach the break-even point in the third year.

The company official declined to specify the turnover budgeted for the coming year, but said that the company will take into consideration “all factors which can influence the 2009 results, such as the dynamics of the therapeutic fields in which we operate or in which we will launch products, the updating of the exchange rate or the deadline for debt collection.” 

The local medication market is valuated at €1.85 billion, and is expected to enjoy a 10 percent growth rate in 2009.