Polisano’s Distribution Arm Grows 23% After Nine Months

11.22.2011 By Ioana David

Pharmaceuticals wholesaler Polisano, controlled by Sibiu businessman Ilie Vonica, posted sales of 890 million lei (EUR204 million) in the first nine months, up 23% against the similar period of 2010.

"It is a good result for the times we are going through, we achieved 95% of the original budget," said Ilie Vonica, president of the Polisano group.

According to Vonica, the results are due to the "measures taken by the managerial board and to the optimization of the activity of all companies in the group."

Distributor Polisano SRL is the largest company in the group held by Ilie Vonica, 55. The group, which has a turnover of over EUR300 million and around 2,000 employees (according to previous information), also includes a drugstore chain (Reteta), a plant (Polipharma Industries), a generalist clinic chain (Polisano clinic), a dialysis clinic, in vitro fertilization centers and a private hospital (Sibiu).

One of the companies held by Vonica, Sibpharmamed, which operates a drugstore chain, reached RON137 million in turnover last year, and grew by an average 103.4% in the last two years.

Based on its results, the company was rewarded in Sibiu at the "Champions in business" conference organized by Ziarul Financiar, Enterprise Investors and BCR, with the support of Triple Helix foundation in October.

A total of six companies in Transylvania created by Romanian entrepreneurs who achieved annual growth rates of over 100% were then rewarded by ZF.

This year's final "Business Champions" gala will be held in Bucharest on November 23.

Vonica also says the company plans to see "major development" in production, medical services and distribution.

"We are planning to extend our range of medical services, so we will open a new hospital in Sibiu in early 2012, which will include a maternity hospital, as well as an imagistic center and a center for interventional cardiology," Vonica said.

Vonica's latest project is the drug plant, the only (health care) business segment he had not tapped until last year.

This plant makes Vonica one of the few Romanian entrepreneurs to own production facilities.

Polipharma plant manufactures vitamins and other non-prescription drugs.

On the drug market, which exceeds EUR2.2 billion per year, distributor Polisano competes with Mediplus (part of A&D Pharma), Farmexpert, Farmexim, Fildas, Europharm, ADM Farm. The largest drugstore chains that Reteta competes with are Sensiblu, Catena, Dona, Help Net, Richter, Centrofarm. (EUR1=RON4.3608)

(English version by Daniela Stoican)