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What is A&D Pharma?
A&D Pharma Holdings N.V. is the Dutch holding company of A&D Pharma Holdings S.R.L., the largest integrated pharmaceutical wholesale and retail business in Romania. The Company owns Romania’s leading wholesale pharmaceutical network, “Mediplus”, and Romania’s largest national chain of pharmacies, “Sensiblu”.
When did A&D Pharma list on the London Stock Exchange?
A&D Pharma’s Global Depositary Receipts (GDRs) were admitted to the UKLA Official List on October 24th, 2006. It is the only Romanian business listed on the London Stock Exchange at present.
What is A&D Pharma’s ticker symbol?
A&D Pharma’s Global Depositary Receipts (GDRs) are listed on the London Stock Exchange under the symbol “ADPH”.
What is the market value of A&D Pharma?
A&D Pharma has a total market capitalization of approximately €400 million at the end of 2006.
What is the free float of A&D Pharma?
The shares included in the Offering represented about 34% of the Company’s share capital.
What was the value of the IPO?
The IPO was a secondary offering worth EUR136 million (comprising 11,349,399 GDRs at the placing price of €12.00 per GDR).
What bank acted as the lead manager for A&D Pharma’s Offering?
ING Bank N.V., London Branch acted as sole Lead Manager and sole Bookrunner of the Offering.
What was the purpose of A&D Pharma’s IPO?
The proceeds from IPO were transferred to the selling majority shareholder, Sograno B.V. In addition, the IPO serves as a way for the company to raise its profile in the international community and accelerate its growth by consolidating A&D Pharma’s market leading position in Romania and expanding its integrated business model internationally.
What are A&D Pharma’s principal activities?
A&D Pharma operates through two fully integrated subsidiaries: Sensiblu, Romania’s first and largest branded chain of pharmacies, and Mediplus, the largest wholesale distributor with a range of value added services provided to pharmaceutical producers and client pharmacies.
Mediplus is offering an extensive portfolio of ethical and OTC drugs, para pharmaceuticals and health and beauty products – operating a countrywide logistics system comprising 12 warehouses in 12 cities and distributing approximately 5,000 products to over 3,500 pharmacies throughout Romania, representing more than 70% of the total number of pharmacies in the country. The company provides contract marketing and sales services in addition to wholesale distribution.
Sensiblu has the largest network of pharmacies in Romania with more than 200 outlets. It has capitalized on the fragmented market by acquiring Ideapharm in December 2005, which has a chain of 33 pharmacies. The Sensiblu brand has become a well regarded and trusted brand in Romania and is associated with health and beauty, high quality services and a healthy lifestyle. Sensiblu offers 20,000 products and serves more than one million customers per month through more than a million loyalty cards.
What are A&D Pharma’s sales?
The Company’s consolidated sales according to IFRS increased at a compound annual rate of approximately 61% between 2003 and 2005, amounting to €247.3 million for the twelve months ended 31 December 2005 and €147.9 million for the six months ended 30 June 2006.
What is the Company’s market share in Romania?
Both Mediplus and Sensiblu have leading position in the pharmaceutical wholesale and retail sector in Romania, respectively.
Mediplus has consolidated its position in terms of pharmaceutical sales to pharmacies from 13.8% in January 2004 to 20.9% of the market in the third quarter of 2006. Mediplus’ market position in the total pharmaceutical wholesale market, which includes sales to hospitals as well as pharmacies, increased by 23% from 14.2% in the third quarter of 2005 to 17.5% in the third quarter of 2006 (source: Cegedim). Sensiblu had a 5.1% share of the market by value, as of January-July 2006.
How many people does A&D Pharma employ?
As at 31 August 2006, A&D Pharma employed 3,073 people, of which 1,303 worked for Mediplus and 1,770 worked for Sensiblu.
What is A&D Pharma’s strategy?
A&D Pharma has grown its revenues at over 60% over the past three years and has consolidated its position as the number one pharmacy chain and wholesale pharmaceuticals distributor in Romania. Our strategy is to capitalize on the growth of the pharmaceutical sector in Romania and in emerging Central & Eastern European markets. The Group’s objectives are aligned along three key principles: Growth, Differentiation and Operational Excellence. A&D Pharma aims to grow and consolidate its position as Romania’s largest integrated pharmaceutical distribution and retail company, and to develop its presence in other regions.
What is the outlook for the pharmaceutical market in Romania?
The Romanian wholesale and retail pharmaceutical market are currently fragmented. The Romanian pharmaceutical sector is poised for consolidation and continued growth. Romania is the second largest consumer market in CEE and joined the European Union, which will accelerate its economic growth. Current low level of drug consumption per capita supports a projected growth in healthcare spending per capita. Ageing population, increased health awareness and structural changes in healthcare legislation contribute to this trend.
What was the shareholder structure prior to admission and what is it following admission?
Prior to the company’s listing, the major shareholder (93%) was Sograno B.V., a private company with limited liability incorporated under the laws of the Netherlands. The remaining 7% was indirectly owned by members of the management team.
Following admission, Sograno B.V. has a 59% share of the Company’s capital and the free float is 34%. The remaining 7% continues to be owned by senior management.
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