Galenicum will top €100 million in sales for the first time ever this year
November 7, 2017
The pharmaceutical company headquartered in Barcelona has entered the Colombian market with the support of local partners. The firm also operates in Brazil, Chile, Peru and the Dominican Republic.
Founded in 2003 in Barcelona by Joaquim Domingo, Erich J.W. Büchen and Alejandro Ollé —the company’s only partners— the pharmaceutical company Galenicum Health expects to appear on the list of companies with global revenue topping €100 million for the first time ever.
Galenicum was originally launched to develop generic medicines for third parties, and today has its own R&D department in Esplugues de Llobregat. In 2013, the company bought MSD’s manufacturing plant in San Agustín del Guadalix (Madrid) where it produces pharmaceuticals under the subsidiary SAG Manufacturing.
While staying true to its original business, Galenicum also sells generics under its own brand in Latin America and has launched its own line of dermatology products, which are produced in its Madrid plant.
This year’s sales forecast projects €102 million in sales, 30% more than in 2016. That number includes revenue from Galenicum Health, its subsidiaries in Latin America, and sales by Galenicum Special Ingredients —a company that offers ingredients for food products— in which the three partners participate, along with Luis Alabern who holds a 30% share.
The sharp increase in revenue this year is due to the company not having launched any drugs in 2016, while this year it has launched 4 generics for third parties, including Dutasteride for the treatment of benign prostatic hyperplasia.
In 2018, sales are expected to reach €120 million. One of the company’s objectives is to enter the U.S. market with the launch of an injectable in partnership with a local pharmaceutical company. The product is an antibiotic that resulted from in the firm’s R&D work. The company will launch three medicines with local partners in Brazil. Brazil is one of the Latin American markets in which Galenicum operates with partners, along with Chile, Peru and the Dominican Republic. It expects to reap the first benefits of its partnerships in Chile and Peru this year.