The company was founded in 2007 and started its business in 2008. “After having gotten permission for a pharmaceuticals wholesale trade, we aimed to open European sales channels for generic medicaments and at the same time established a classical wholesale trade for pharmacists in Hungary,” explains Dr. László Szép, managing director and founder of Pharmanox. “During our continuous development, we enforced our contacts to pharmacies and purchased several dispensaries ourselves.”
With 90% of its five million EUR turnover, the company’s main business area is found in the wholesale segment for pharmacists. The remaining 10% is covered by additional services like deliveries, warehousing or marketing. In this regard, Pharmanox relies on contracts with large players from the pharmaceutical sector, for example Novartis and Glaxo-Smith-Kline.
“Next year, we will also focus on medicament marketing,” says the managing director. “Genepharm from Pallini, Greece, will provide us with generic medicinal products, which will be promoted and distributed by us.”
In terms of its own methods of marketing, the company primarily focuses on personal contacts and communication with trustful partners.
“Former fellow students of mine are a good example,” explains Dr. Szép. “In our current situation, it is of great importance to rely on your business partners and contractors. In the past, many pharmacies in Hungary had to file for bankruptcy. When it comes to the future promotion of medicaments, we will have to pursue new ways, including a broader presence on the markets in Hungary and abroad.”
Despite challenging economic developments on the domestic market, Pharmanox continues to build on its unique features. “Flexibility and promptness are our advantages,” states the managing director. “In the future, we want to achieve success in drug marketing. Furthermore, our own pharmacies will be strengthened, and additional partners, approximately 40 to 50, are to be brought on board. With these preconditions, our relatively small wholesale trade will gain a stable market presence.”
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