Glenmark makes first entry into Poland

India's Glenmark Pharmaceuticals has signed agreements with Actavis, the international generic pharmaceutical company from Iceland, and Actavis' Polish affiliate Biovena to acquire seven drug brands in Poland. The acquisition of the products from these two different companies for an undisclosed sum will provide Glenmark its first access to the growing Polish market, the largest pharmaceutical market in Central and Eastern Europe.

Glenmark estimates that the acquired portfolio is worth $15.0 million in sales during fiscal year 2009. Under the terms of the deal, Medicamenta will receive all authorizations and trade marks in Poland for the products, and will sell them there directly through its appointed distributors. The Polish market in 2007 was worth about 4.7 billion euros ($7.0 billion), according to IMS figures, and showed growth of about 8% over the previous year.

In June, Glenmark established a new sales and marketing organization in Poland, Glenmark Pharmaceuticals Sp zoo, and announced the appointment of its country manager, Wojciech Smoczynski. Guy Clark, president of Glenmark Europe, noted that, "after the acquisition of Medicamenta in 2007, which gave access to the Czech and Slovakian markets, and the establishment earlier this year of a company in Romania, this is another major development for Glenmark in the European region. The acquisition of this product portfolio fits well with Glenmark's overall strategy for increasing revenue and accelerating growth in a key strategic market like Poland."