The supervisory board of Celesio has approved the majority holding of 50.1% in pharmaceutical wholesaler Panpharma.
The company said that it has spent about two years thoroughly analysing the Brazilian pharmaceutical market, the political environment and the corporate landscape.
Oesterle, CEO of Celesio, said: We are happy to have found in the Panarello family and the Panpharma Corporation the perfect partner in Brazil. Together we now want to continue the successful development in Brazil. Panpharma’s capital increase is an essential prerequisite to do so.”
“If we want to operate pharmacies then we would have bought a pharmacy chain, but we don’t want to run a retail business in Brazil. Our goal is to improve the service levels to Panpharmas clients, the pharmacies, he added.
Alexandre Panarello, CEO of Panpharma, said: “We are looking forward to the long-term strategic partnership and cooperation with Celesio.”
Celesio covers the spectrum of pharmaceutical trade and pharmaceutical-related services. The group is active in 14 countries and employs around 38,000 people in its three divisions Patient and Consumer Solutions, Pharmacy Solutions and Manufacturer Solutions.
Panpharma is specialized in the aseptic filling of powders for injection,
and the manufacturing of parenteral liquid forms. It is specialised in supply of large range of pharmaceuticals and contract manufacturing.