BioPhausia has signed a long-term supply agreement with Apoteksgruppen, one of Sweden's largest pharmacy chains. Under the agreement, BioPhausia will become Apoteksgruppen's main supplier of parallel-imported pharmaceuticals through the Company's subsidiary Cross Pharma. BioPhausia has also signed a supply agreement with another large pharmacy chain. "We are delighted to have concluded this important agreement with one of Sweden's leading pharmacy chains," says BioPhausia's CEO Claes Thulin. "Our partnership with Apoteksgruppen is evidence that the re-regulation of the Swedish pharmacy market is creating new business opportunities for companies like us."The agreement with Apoteksgruppen covers continuous delivery of 100 parallel-imported pharmaceuticals for various indications, including the cardiovascular system, stomach and intestines, asthma and the central nervous system. All parallel-imported products are originator drugs with patent protection. Parallel import represents an important business segment for BioPhausia, which is currently Sweden's fourth largest parallel import company. These operations are run in the wholly-owned subsidiary Cross Pharma, which reported annual sales of SEK 297 million in 2009. Cross Pharma is constantly renewing and broadening its product portfolio and the aim is to expand further into existing and new markets. Cross Pharma's parallel trade contributes towards sharpening the Company's competitiveness and placing price pressure on prescription drugs with patent protection. Apoteksgruppen is one of the new pharmacy chains created when the Swedish pharmacy market was re-regulated. The group's sales for 2009 amounted to SEK 3.9 billion, which corresponds to a market share of 13 percent. The chain has 150 pharmacies - from Gällivare in the north to Borrby in the south - run by local small entrepreneurs under a common service organisation. Apoteksgruppen is the fourth largest chain in Sweden. For further information, please contact: Claes Thulin, CEO +46 8 407 64 30 [HUG#1413203]
BioPhausia becomes Apoteksgruppen's main supplier of parallel-imported pharmaceuticals
| Source: BioPhausia AB