Additionally, CHEPLAPHARM acquires Glenwood LLC based in New York, USA.
CHEPLAPHARM continues its rapid growth in 2013. The increase in sales amounts to 50 % compared to 2012. Together with its subsidiaries, a turnover of 60 million EURO was generated. The number of employees increases to more than 70 and new hires were carried out at the sites in Mesekenhagen and Greifswald´s business park Ziegelhof.
Also, on an international level, CHEPLAPHARM is continuously expanding. Just recently 100% of the company shares of US firm Glenwood LLC, located in New York, were acquired.
CHEPLAPHARM’s CEO Sebastian Braun: „The takeover of Glenwood LLC is a decisive step for us to further extend our distribution and to drive the internationalization of our niche products. The US market is the world’s largest pharmaceutical market which is why we decided to serve this market with CHEPLAPHARMs own subsidiary.”
Glenwood LLC focuses on the distribution of niche products, mainly the urology product POTABA® with its active substance potassium 4-aminobenzoate. POTABA® has anti-inflammatory effects and impedes the functioning of connective tissue cells.
Braun comments: “With the Glenwood LLC acquisition and the involved takeover of the US-rights for POTABA®, we were now also able to secure the worldwide rights for this interesting niche product.” CHEPLAPHARM has been distributing POTABA® to several European countries for a while now.
Hence, 2014 is a year of expansion for the company. Braun is confident: “We want to continue our growth strategy. Because of our current product portfolio and share of exports, I am optimistic to achieve this goal, despite the severe pressure from the health care system.”