Alliance Sante Moves Into Greek Drug Market

The Franco-Italian drug wholesale grouping of IFP and ERPI of France and Alleanza Farmaceutica of Italy - Alliance Sante - has signed an accord with the second largest Greek drugmaker, Lavipharm (with annual sales of around $78 million) to set up a new marketing and distribution company, LAS, which will distribute the products of Lavipharm.

IFP and ERPI have taken a joint 15% stake in LAS worth some 7.5 million French francs ($1.5 million), and this stake will rise optionally to 34%.

The two French wholesalers say they will develop this structure of operation for the benefit of other drug companies and may draw in other Greek companies, so strengthening the position of Alliance as the largest distributor in southern Europe. Within a year, they hope to have 10% of the currently fragmented Greek market.