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news.Glenmark Pharmaceuticals has announced that its European organization, acting through its Czech subsidiary Medicamenta, has signed agreements with Actavis, a generic pharmaceutical company from Iceland, and Biovena to acquire seven pharmaceutical brands in Poland.
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The acquisition of the products from these two different companies will provide Glenmark its first access to the growing Polish market, the largest pharmaceutical market in Central and East Europe.
In June 2008, Glenmark successfully established its new sales and marketing organization, Glenmark Pharmaceuticals Sp zoo, in Poland and appointed Wojciech Smoczynski, as the new country manager. Mr Smoczynski recently worked as country manager for J&J’s pharmaceutical division – Janssen-Cilag.
Glenn Saldanha, managing director and CEO of Glenmark, said: “This portfolio acquisition will accelerate our growth in a very promising Central & East European Market. The Polish market has good potential for branded generic products and Glenmark will now have the necessary front-end and the product range to access and develop in this exciting market.”