21 May 2018 - Deborah Wilkes
Acquiring Strathmann and Trommsdorff helped lift sales at Germany's Dermapharm by 16.4% to EUR138 million (USD161 million) in the first quarter of 2018.
Chief executive officer Hans-Georg Feldmeier said the first quarter highlighted Dermapharm's "three-pillar strategy of in-house product development, internationalisation and successful acquisitions".
Feldmeier pointed out the acquisitions had strengthened the share of branded therapeutics in Dermapharm's portfolio as well as reducing the company's dependence on direct health insurance discount contracts.
The company's Branded Pharmaceuticals and Other Healthcare Products segment recorded sales up by 43% to EUR79.5 million in the first quarter of 2018.
Dermapharm boosted its OTC presence in its home market of Germany in early 2018 by acquiring Trommsdorff from Spain's Grupo Ferrer Internacional. Trommsdorff's main brands in Germany include Keltican Forte for back pain and Tromcardin Complex for heart health (click here to read the News story).
The deal came a few weeks after Dermapharm acquired Strathmann. The family-owned German company primarily markets herbal medicines and other OTC products including the Biofax herbal diuretic, Ebenol hydrocortisone creams and Hox Alpha for rheumatic complaints.
Dermapharm's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) adjusted for one-off costs associated with its recent Initial Public Offering (IPO) were up by 25.3% to EUR36.2 million. The adjusted EBITDA margin was 26.3%.
Dermapharm is a family-owned company through Themis Beteiligungs-Aktiengesellschaft, which remains the majority shareholder after the IPO.
Based in Germany, Dermapharm has operations in Austria and Switzerland, and has recently set up subsidiaries in Italy and the UK. The company plans to introduce selected products – both existing and new – into additional European markets including Italy, Spain, the UK, the Benelux countries, the Czech Republic and Slovakia.
The Dermapharm group includes the Anton Hübner OTC business in Germany, which markets the Tannenblut range of herbal remedies. Dermapharm also owns the ACIS and Mibe generics subsidiaries, and the Tiroler Nussöl suncare business.
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