The expansion process is part of a strategy that has set ambitious goals for the future: the €50 million milestone is the next target, along with maintaining the EBITDA indicator at double-digit percentage levels and increasing turnover by at least 10% annually.
"Our mission is to facilitate the access of Bulgarian patients to innovative medicines and solutions that are not available on the Bulgarian market for various reasons related to the strategies of the companies and authorities in the respective countries. That's why we decided to get involved in this process, to cover as many of the links as possible: product registration, product promotion, import and distribution," says Octavian Iacob, Co-Founder of Direct Pharma Logistics.
Bulgaria is a market with a lot of potential, as there is a major shortage of medicines, according to the Bulgarian Pharmaceutical Union. In addition, although the number of pharmacies is almost double the European average, there is a significant shortage in terms of the number of pharmacists, and therefore of support and advice in terms of patient treatment.
„We will work closely with Bulgarian manufacturers to launch new products on the Romanian market. Another objective is to better understand the needs of Bulgarian authorities, doctors and patients,” says Marius Mincă, CEO of Pharmalink.
For now, the commercial structure of the organization in Bulgaria will be composed of a general manager, in the person of Marius Cănălău, a chief pharmacist, a legal adviser and 4 medical representatives, while the warehousing, logistics and distribution will be coordinated by the group's local partner, the Bulgarian company Medex.
„For the manufacturers with whom we collaborate, a great advantage is the simplified access to other markets neighbouring Romania, where they are not present at the moment. We will also be able to negotiate and sign exclusive contracts with future partners who wish to access multiple markets through a single partner. Throughout our 10 years of activity, we have faced this request from partner companies and we have always wanted to expand into other markets. But first we wanted to strengthen ourselves as a group, to gain the experience we have today, so it is high time to expand towards more parts of Europe,” added Octavian Iacob, Co-founder Direct Pharma Logistics.
For the first quarter of 2024, Direct Pharma Logistics surpassed its targets, posting a turnover of €11.1 million in the first quarter of 2024, up 13% on the same period last year. The three-company group is celebrating its 10th anniversary this year and has expanded its team to around 100 members as of the start of 2024.
Direct Pharma Logistics is a company with national coverage in Romania, providing logistics services for pharmaceutical companies, founded with the aim to fulfill the manufacturers' need for direct distribution. With more than 10 years of experience in logistics services, specialization, compliance, safety, time optimization and cost efficiency are priorities for the company.
Pharmalink specializes in marketing services and direct pharmaceutical sales in Romania. It offers long-term partnerships in representing pharmaceutical companies that want to increase awareness of their products among medical specialists and sales through pharmacies and hospitals. Pharmalink is a solution for companies that need a team of professionals to provide customized and innovative services to the pharmaceutical market to facilitate the sale, development, approval, and monitoring of pharmaceutical products to improve cost efficiency in healthcare.
Farmatop is a clinical pharmacy dedicated to groups of chronically ill patients who require the highest level of treatment and need access to the most innovative solutions to treat their conditions.
