Eurofarma strengthens its presence in Central America with the Stein product line acquisition
Published in: February 11, 2019
and updated in: November 4, 2021
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São Paulo, January 2019 – Eurofarma, a 100% Brazilian pharmaceutical company present in 20 Latin American countries, has just strengthened its operations in Central America with the acquisition of the prescription drug line of the Stein laboratory, based in Costa Rica. With this transaction, the company has added up 90 products to its portfolio and expanded its presence in previously unexplored markets such as Costa Rica and Honduras, besides having strengthened its position in Guatemala and Ecuador.
The acquisition reaffirms the commitment to the continuity of the internationalization plan started in 2009 and, above all, a breakthrough regarding the growth strategy in the region, as explained by Maria del Pilar Muñoz, vice president of Sustainability and New Businesses. "It is a major acquisition in the region, as we were looking for larger assets that could leverage our international sales significantly. We were pioneers in the strategy to geographically expand our operations and we continue with the firm intention to occupy a prominent position in the region. In recent years, thanks to the learning we had, we have refined our model, established some markets as priorities and actively prospected. With this transaction, we will move from the 33rd to the 16th market position in Central America."
Eurofarma, the 2nd largest company in prescription and 3rd in generic drugs in Brazil, had in 2018 about 13% of its sales from international operations, a percentage that should reach 30% by 2022. The average growth of the company in the last 15 years was 15% per year. For Marco Billi, Eurofarma's M&A and Corporate Venture manager, the acquisition is important to speed up the brand penetration in a number of markets. "Stein's products have a strong presence in markets where our participation was still timid, such as Costa Rica, Honduras and Panama. We have established a business that allows us to move forward in the Central American countries, gaining scale, geographical complementarity and portfolio. With the acquisition, Eurofarma will increase its international sales by more than 30%."
Newly acquired products include analgesics, cardiovascular, gastrointestinal and respiratory medications. At first, the production will continue with Stein, but the expectation is that much of the production line will be transferred to the Eurofarma plant in Guatemala.
About 100 Stein employees joined the Eurofarma medical advertising team. In all, there are more than 200 presentations that will be marketed in 8 different countries. With the new business, Eurofarma has become one of the 5 largest competitors in Central America with Latin American capital.
About the Eurofarma Group
With 46 years of existence, Eurofarma is the first Brazilian pharmaceutical multinational. With 100% national capital, it is recognized by the medical community and society for promoting access to health and quality of life with a fair price, quality and innovative treatments.
Present in 20 countries, it operates in the area of Medical Prescription and Non Prescription, Generic drugs, Hospital, Bids, Oncology, Veterinary and Services for third parties’ segments. In Brazil, the portfolio is represented by more than 330 brands, totaling around 1000 presentations that serve 28 medical specialties, covering 48 therapeutic classes.
In Brazil, Eurofarma occupies the 2nd position in medical prescriptions and the 3rd position in the generic segment.
For more information, visit www.eurofarma.com.br
Facebook: @eurofarma | LinkedIn: @eurofarma | Instagram:@eurofarma_br
Eurofarma’s Press Office
Stephanie Van Sebroeck +55 11 5090-8600 ext.8369 – stephanie@gaspar.com.br
Guilherme Gaspar +55 11 3065-3045 – guilherme@gaspar.com.br
The acquisition reaffirms the commitment to the continuity of the internationalization plan started in 2009 and, above all, a breakthrough regarding the growth strategy in the region, as explained by Maria del Pilar Muñoz, vice president of Sustainability and New Businesses. "It is a major acquisition in the region, as we were looking for larger assets that could leverage our international sales significantly. We were pioneers in the strategy to geographically expand our operations and we continue with the firm intention to occupy a prominent position in the region. In recent years, thanks to the learning we had, we have refined our model, established some markets as priorities and actively prospected. With this transaction, we will move from the 33rd to the 16th market position in Central America."
Eurofarma, the 2nd largest company in prescription and 3rd in generic drugs in Brazil, had in 2018 about 13% of its sales from international operations, a percentage that should reach 30% by 2022. The average growth of the company in the last 15 years was 15% per year. For Marco Billi, Eurofarma's M&A and Corporate Venture manager, the acquisition is important to speed up the brand penetration in a number of markets. "Stein's products have a strong presence in markets where our participation was still timid, such as Costa Rica, Honduras and Panama. We have established a business that allows us to move forward in the Central American countries, gaining scale, geographical complementarity and portfolio. With the acquisition, Eurofarma will increase its international sales by more than 30%."
Newly acquired products include analgesics, cardiovascular, gastrointestinal and respiratory medications. At first, the production will continue with Stein, but the expectation is that much of the production line will be transferred to the Eurofarma plant in Guatemala.
About 100 Stein employees joined the Eurofarma medical advertising team. In all, there are more than 200 presentations that will be marketed in 8 different countries. With the new business, Eurofarma has become one of the 5 largest competitors in Central America with Latin American capital.
About the Eurofarma Group
With 46 years of existence, Eurofarma is the first Brazilian pharmaceutical multinational. With 100% national capital, it is recognized by the medical community and society for promoting access to health and quality of life with a fair price, quality and innovative treatments.
Present in 20 countries, it operates in the area of Medical Prescription and Non Prescription, Generic drugs, Hospital, Bids, Oncology, Veterinary and Services for third parties’ segments. In Brazil, the portfolio is represented by more than 330 brands, totaling around 1000 presentations that serve 28 medical specialties, covering 48 therapeutic classes.
In Brazil, Eurofarma occupies the 2nd position in medical prescriptions and the 3rd position in the generic segment.
For more information, visit www.eurofarma.com.br
Facebook: @eurofarma | LinkedIn: @eurofarma | Instagram:@eurofarma_br
Eurofarma’s Press Office
Stephanie Van Sebroeck +55 11 5090-8600 ext.8369 – stephanie@gaspar.com.br
Guilherme Gaspar +55 11 3065-3045 – guilherme@gaspar.com.br