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The Warsaw Voice » Business » April 2, 2008
Business
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PGF Expands
April 2, 2008 By Wanda Jelonkiewicz   
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Polska Grupa Farmaceutyczna (PGF), Poland's leading distributor of pharmaceuticals, has registered a subsidiary in the Netherlands. The company, called Central European Pharmaceutical Distribution (CEPD), is expected to help the group expand in Central Europe.

PGF is one of Poland's fastest expanding companies. Since 1998, when it was floated on the Warsaw Stock Exchange, its sales have risen 16-fold and its net profit has increased tenfold. "We are now able to exploit our experience on foreign markets," said the group's chairman, Jacek Szwajcowski. "The scope of PGF's operations is now so large that we have decided to divide it into two separate divisions: wholesale and retail. The establishment of CEPD will make it easier for us to effectively manage our international business and acquire new funding for investment projects."

CEPD will serve as a holding company for pharmaceutical distributors in selected European countries. The CEPD division will include PGF subsidiaries operating on the Polish retail market and all of the group's companies operating on foreign markets.

"Our plans cover an area inhabited by over 180 million people," said CEPD's CEO Maria Wiśniewska. "The greatest advantage of the new organizational structure is the ability to offer much better services to producers and pharmacists, and consequently to patients. Operating on more than 10 markets, we are able to guarantee producers long-term contracts and stable financing arrangements."

PGF, which over the past 10 years has grown from a local wholesaler into an international company that distributes pharmaceuticals to around 8,000 pharmacies in Poland and Lithuania and runs two pharmacies in Britain, wants to become the leading pharmaceutical distributor in Central Europe. In 2007, PGF's consolidated sales revenue reached zl.4.4 billion, up from 4 million in 2006. Its net profit was zl.74.1 million, 19 percent more than in 2006. PGF has 14 warehouses across Poland, something that enables quick deliveries of pharmaceuticals to pharmacies in every part of the country.

PGF is expanding its marketing program under the slogan "Pharmacies: I Take Care of My Health." The program already involves 17,000 pharmacies. PGF also plans to expand its website, www.doz.pl, which offers patients access to information about health and pharmaceuticals, Szwajcowski said.
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