US giant Pfizer, the world's largest drug maker, in 2007 generated 15% higher sales domestically, a growth rate it plans to maintain this year.
"One of my objectives is to secure Pfizer's growth in Romania as a key player. We don't target the number one spot in five years. We'll lose patents and we have to be realistic in terms of expectations. We want to be among the top three companies over the next three years," stated Stanley Mendonca, country manager with Pfizer Romania, in an interview with ZF.
According to Cegedim Romania data, Pfizer's sales in Romania reached 92m euros in 2006, when it ranked fifth among players in this field. Over the medium term, Pfizer is expected to maintain this growth rate, which surpasses the rate of the overall pharmaceuticals market and is expected to slow down in the coming period.
"We estimate that in 2-4 years we'll post an average advance of 12-15%. There will be years when we can grow even further, but we don't believe the market will expand at the same rate as in the past. The increase will amount to 10-12% on average and this is why we hope to exceed this level in order to gain a market share," Mendonca added.
He was appointed to the helm of the domestic unit of the US giant in 2006 when he took over from Regis Lhomme, who, in turn, went to take charge of the Russian unit.
"The first thing I aimed for after coming to Romania was to understand the market. I did not come with the idea of changing something. I had to learn about Romania; about the market," said Mendonca.
Pfizer includes in its portfolio products such as Sortis, a drug that boasts the highest sales worldwide, and Viagra, the best-known brand in the pharmaceutical industry.
"Our portfolio in Romania is not that different compared to other countries. Sortis is the drug with the highest sales at a global level, and last year also became our number one product here," said Mendonca. Until 2007, Pfizer's biggest selling drug in Romania was Sermion.
The above 15% annual increases make Romania one of the most attractive markets for the pharmaceutical industry given that at a global level the growth rate is a constant 5-6%. "Romania is a key market in Eastern Europe primarily owing to its size. In addition, there are still several medical problems, whilst many patients don't have access to drugs," added Mendonca.
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