The Company, established in the early 70's, is privately owned and among the top ten Greek pharmaceutical companies by size.
It produces a variety of pharmaceuticals products in the following forms: plain, coated and sugar coated tablets, plain and controlled release capsules, creams, ointments, gels, suppositories, oral drops, syrups, suspensions, solutions for external use such as shampoos and lotions, and sterile products (dry powders for injection, injectable solutions).
Its generic formulations include:
- Dermatological agents
- Antibacterial agents
- Lipid-regulating agents
- Gastro-intestinal agents
In addition to formulations that cure:
- Carnitine deficiency
- Capillary impairment
- and illnesses in connection with the central nervous system and respiratory system
The Company operates an ISO 9001 certified production facility in Athens, Greece. At present, 28 employees man these facilities, ensuring that Good Manufacturing Practice is followed all throughout the process.
The products are exported to many countries in Eastern Europe, the Middle and Far East, and Africa.
The owners are in their 70s and 80s and would like to retire and haven't been focusing on growing the business. Hence, turnover has fallen as a result, in addition to the crisis, to around EUR2mn with ~20% EBITDA margin (operating one shift).
The Company is valued at EUR 8.5mn, including EUR 2mn in real estate value. The Company may be sold separately without the real estate.
This offering is an excellent opportunity for an outsider to enter the European markets through a licensed facility using Greece (or other facilities in cheaper locale) as a lower-labor cost production center and to service the growing demand for pharma products in Turkey and other neighboring emerging markets.