CROMA Pharma: Global expansion is the key to growth

VIENNA--(BUSINESS WIRE)--With new branches in Canada, Belgium and The Netherlands, Austrian pharmaceutical company CROMA Pharma, which operates worldwide, has expanded its domestic market by no fewer than 60 million individuals over the past few months. In so doing, CROMA Pharma is continuing its successful growth strategy that has served it well over the past few years.

“Recent developments have shown that we work best with our products on markets where we ourselves are present. This allows us to bring our entire product range onto the market in the areas of ophthalmology, dermatology and orthopaedics, at the same time creating new and greater synergies”

“Recent developments have shown that we work best with our products on markets where we ourselves are present. This allows us to bring our entire product range onto the market in the areas of ophthalmology, dermatology and orthopaedics, at the same time creating new and greater synergies”, says CROMA Manager Andreas Prinz. “For this reason, we are determined to pursue our international growth strategy over the coming years, albeit cautiously and taking one step at a time.” The Canada branch was opened in the spring of 2012; the Belgian one opened its doors in October of the same year.

Croma Pharma CANADA Ltd's first priority is to expand the market in ophthalmology, specifically in the area of cataract treatment by approving and selling phaco-emulsification systems, intra-ocular lenses and viscoelastics. Every year, 440,000 cataract operations are carried out in 280 hospitals and private outpatient centres – a very fertile market exhibiting sustained growth trends.

Croma Pharma BVBA (Belgium) was founded at the beginning of 2012 and became fully operational in the summer of the same year. Following several years of representation via distributors, CROMA Pharma decided to found a sales branch and introduced its complete orthopaedics portfolio onto the Belgian market. In so doing, the company cemented its position as a hyaluronic acid specialist, making new and innovative products both available and accessible. The company’s global growth strategy is also being rolled out locally in 2013. The Belgian branch, for example, is poised to launch its successful line of aesthetic products named ‘Princess’. The introduction of the over-the-counter product portfolio is in also the pipeline for June 2013.

Croma Pharma Nederland B.V. (The Netherlands)
The eleventh, and most recent, sales branch has just opened in The Netherlands. The country demonstrates the potential unleashed by expanding in this way. In the ophthalmology sector alone, 16.7 million inhabitants signal a huge new market served by 600 ophthalmologists and 150 practising eye specialists. On a yearly basis, more than 160,000 cataracts are treated in the area. The picture is similar in the areas of aesthetic dermatology and orthopaedics.

Captions:

CROMA Pharma_Andreas Prinz: CROMA Pharma Manager Andreas Prinz is pleased at the company’s successful growth. http://db.tt/YjvRsTb4

CROMA Pharma_Arthur Fleischmann_Belgium: Arthur Fleischmann is Managing Director of CROMA Pharma in Belgium. http://db.tt/SdM7nQ4J

CROMA Pharma_Erwin de Kruif and Walter van de Ven_The Netherlands: Andreas Leeb, Walter van de Ven and Erwin de Kruif are Managing Directors in The Netherlands. http://db.tt/2Cyk4hUZ http://db.tt/AvMoHM1v and http://db.tt/JhtZflGw

CROMA Pharma_Wayne Fowler_Canada: Wanye Fowler is Vice President of Ophthalmology in Canada. http://db.tt/4R3T67t2

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About CROMA Pharma

CROMA Pharma is a global company headquartered in Austria, which develops and manufactures medicine and medicinal products in the area of ophthalmology, orthopaedics and aesthetic dermatology. CROMA Pharma is one of the world’s five largest companies in the area of intra-ocular lenses and viscoelastics for eye surgery. A pillar of the company’s success is its intensive focus on research and development. Around 90% of its turnover is based on innovative research and development, carried out at its Austrian-based head office. CROMA Pharma is continuously growing and has branches in Germany, France, Poland, Romania, Spain, Belgium, the USA and Canada. Further information can be found at: http://www.croma.at

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