Home » ELRAN AND NEWPHARM TO ESTABLISH NEW ROMANIA PHARMACY NETWORK
ELRAN AND NEWPHARM TO ESTABLISH NEW ROMANIA PHARMACY NETWORK
Israeli pharmacy operator NewPharm and industrial group Elran Holdings are to collaborate on a new stores network in Romania. The two companies will provide startup finance worth some EUR4mn (US$5.26mn) for the new venture, with NewPharm to provide management services in exchange for a monthly fee. NewPharm operates a chain of pharmacies with some 50 outlets in Israel.
Romania is currently one of Europe's least developed markets, with per capita spending at just US$18 in 2003. However, as local patent laws are opaque and government relations with the multinational sector remain problematic, opportunities should remain skewed toward the basic medicines segment and retail activity.
KEYWORDS Daily International Pharma Alert
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