Drug distributor Europharm Holding made total sales of 143 million dollars (115 million euros) in 2004. This represents growth of 33% on the previous year thanks to the restructuring process it started in early 2003. Europharm Holding is a member of British pharmaceuticals group GlaxoSmithKline (GSK), the leader on the Romanian market. Brasov-based Europharm, which has production, distribution and retail operations, was taken over by GSK in stages from businessman Mihai Miron in a deal worth over 40 million dollars. "The company's restructuring process was started at the beginning of 2003, and its total cost of about 8 million dollars was aimed at building an integrated business system," said Gabriel Matei (photo), commercial manager of Europharm Holding. Europharm Holding has both drug distribution operations, through Europharm Distribution, and a drugstore chain. Early last year Europharm completed the restructuring of its operations through the rebranding of the drugs made in Brasov. Approximately 20 million dollars from Europharm's 143 million dollar sales were made by the group's drugstore chain, an increase of 20% on the previous year, with Europharm Distribution accounting for the rest of the sales. ZF
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