Labormed drug producer, owned by Advent International investmentfund, has budgeted a 25% turnover increase for 2011 from the70-75m-euro level reached this year.
"2011 will be another year of survival. The strategy we have tosurvive is growth. There are two ways one can carry on in such anenvironment. Cutting costs and the business size as much aspossible, but this strategy would not work in our case. The secondsolution would be to grow and this is what we've chosen forLabormed," Stephen Stead told ZF.
He added the growth would come from the OTC drug portfolio, butalso from new product launches.
"The most important projects of 2010 were rebranding finalisation,after acquiring Ozone portfolio and the internalisation of theseproducts, building a new administrative offices near the plant,where the entire personnel moved. We made major changes in theorganisational structure by outsourcing logistics, expanding theOTC team, strengthening the Rx (prescription drugs) team and theinternational department. We introduced 11 new products this year,part of them developed in house," Stead added.
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