- On track to achieve 2019 organic net sales growth of 10%
- Significant expansion of European business in past year
- Presence grown to nine countries, reaching over 70% of European CNS market (1)
LANGENFELD, Germany, Sept. 24, 2019 /PRNewswire/ -- Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on the central nervous system (CNS), today provides a business update for the last twelve months.
Following the rebranding of the company in October 2018 to Neuraxpharm from NuPharm Group, Neuraxpharm has made great strides to build a sustainable business in the past year, delivering on its strategy of becoming a CNS specialist in Europe.
With an expanded presence in nine countries and over 750 employees, Neuraxpharm is on track to achieve gross sales of EUR 400m by the end of 2019. CNS products account for 85% of sales, with direct sales in Europe representing 85% of total sales for the Company. In Spain and Germany, Neuraxpharm ranks as one of the fastest growing of the 50 biggest pharmaceuticals companies in these countries.
Dr Jörg-Thomas Dierks, Chief Executive Officer of Neuraxpharm, said: "This has been a truly transformational year for Neuraxpharm. We have built on our position as a leading European CNS specialty company, resulting in significant expansion within markets offering double digit growth, and also strengthened the management team with several key appointments.
"We are in an excellent position to capitalise on the substantial opportunity in CNS, a €29Bn market in Europe, and the second largest after the US. We expect to continue our growth in the twelve months ahead and to build on our pipeline and portfolio targeting the large unmet needs of CNS patients."
Expanded European presence
In 2019, the Company acquired Farmax, a CNS specialty pharmaceutical company with a strong distribution presence in the Czech Republic, Slovakia and Hungary. Following the acquisition and the set-up of new operations in Poland and the UK, Neuraxpharm has grown from four to nine European markets, with the aim to expand further in the coming months.
Strengthened Senior Management Team
Following the appointment of Dr Jörg-Thomas Dierks, former global CEO of Meda Pharma, as Chief Executive Officer of Neuraxpharm in September 2018, Dr Chris Britten, former Global Head of M&A at Sandoz Intl (Novartis Group), has recently joined the company to be in charge of M&A.
New country heads have been appointed in Poland, France and the UK. In addition, Neuraxpharm has appointed two commercial heads - Javier Mercade for the South Region, and Dr Olaf Krampe for the Central Region.
Leveraging its R&D capabilities, Neuraxpharm is committed to investing in its pipeline by developing more than 25 projects, most of them differentiated products, including some high-tech barrier products, and 100% focused on CNS.
Neuraxpharm also announces the establishment of the Center of Excellence Neuraxpharm HealthTech as its new International Innovation Platform responsible for overseeing the scientific aspects of R&D for the Group. The Center will be launched in November 2019, reporting to the CEO office.
About Neuraxpharm – the European CNS specialist
Neuraxpharm is a leading European specialty pharmaceutical company focused on the treatment of central nervous system disorders (CNS), with a direct presence in Germany, Spain, Italy, France, United Kingdom, Poland, Czech Republic, Slovakia and Hungary. Backed by funds advised by Apax Partners, Neuraxpharm has a unique understanding of the CNS market built over 30 years.
With its focus on CNS, Neuraxpharm develops and commercializes value added medicines, standard generics and consumer healthcare products, e.g. nutraceuticals and probiotics, and is continuously striving to offer a wide range of effective, high quality and affordable CNS treatment options in Europe.
(1) Source: IMS Data