GSK signed a sales agreement for Europharm Distribution in Romania
GlaxoSmithKline Plc and Interbrands Marketing & Distribution signed a sales purchasing agreement for transferring 100% of the ownership shares of Europharm Distribution, currently a fully owned GSK subsidiary;
GSK and Interbrands Marketing & Distribution will file for Romanian Competition Council's approval, as required by law;
Until the consent of authorities, Europharm Distribution remains fully owned by GSK and continues to be managed as part of GSK Group.
October 13th, 2015 - The agreement was signed today, October 13th, 2015, and provides a sale purchasing arrangement for transferring 100% of the ownership shares of Europharm Distribution, currently a fully owned GSK subsidiary.
In the coming days, GSK and Interbrands Marketing & Distribution will file for Romanian Competition Council's approval. Till then, Europharm Distribution remains fully owned by GSK and continues to be managed as part of GSK Group.
"It is an important moment for Europharm Distribution, which stands now as one of the major pharmaceuticals distribution companies in Romania. Europharm Distribution plays an important role on Romanian pharmaceuticals distribution market and for GSK business in Romania, so, in analysing Interbrand's binding offer, GSK took into consideration the commitment of the buyer for business continuity and employees wellbeing", said George Katzourakis, SVP Head Europe Area, Pharma Europe.
Europharm Distribution will continue its mission to provide customers and patients with best health-care products available, by keeping high standards in supplying a wide range of pharmaceutical products. Provided the transaction receives RCC's and other regulators' approvals, Europharm Distribution will benefit from Interbrands' marketing and distribution expertise.
GSK Romania is aligning thus to its parent company's global strategy, focusing on its core business activity of developing and launching new medicines and vaccines, with the purpose of significantly improve health and healthcare.
GSK – one of the world's leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit http://ro.gsk.com/
INTERBRANDS Marketing & Distribution S.R.L. - part of the Sarkis Group International, with lines of business developed in Cyprus, Bulgaria, Romania, Belarus, Lebanon, Qatar, Iraq and Libya. Interbrands is the most important Romanian company in the distribution and marketing of fast moving consumer goods (FMCG)
Europharm Distribution is one of the most important local drug distribution companies (top 5), active on the local market for over 20 years (since 1994). Its main focus is concentrated on contributing to increasing access for patients to treatments, by means of a complex product portfolio, by national coverage and partnership with clients and suppliers.