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Celesio Acquires Majority Stake in Number One Brazilian Pharmaceutical Wholesaler Panpharma
Date:7/10/2009

STUTTGART, Germany, July 10 /PRNewswire/ -- The supervisory board of Celesio AG has today approved the majority holding of 50.1 per cent in pharmaceutical wholesaler Panpharma. This step into one of the most attractive and strongest-growing pharmaceutical markets world-wide is part of Celesio's growth strategy. Celesio doesn't plan to setup a pharmacy chain in Brazil.

Celesio spent about two years thoroughly analysing the Brazilian pharmaceutical market, the political environment and the corporate landscape. "We are happy to have found in the Panarello family and the Panpharma Corporation the perfect partner in Brazil. Together we now want to continue the successful development in Brazil. Panpharma's capital increase is an essential prerequisite to do so," Oesterle continued. He also stated that Celesio is not planning to setup a pharmacy chain in Brazil. "If we want to operate pharmacies then we would have bought a pharmacy chain," added the Celesio CEO, "but we don't want to run a retail business in Brazil. Our goal is to improve the service levels to Panpharma's clients, the pharmacies."

The optimum market conditions, excellently trained and highly motivated employees at Panpharma as well as Celesio's international wholesale experience form an excellent base for the growth course of the company. Alexandre Panarello, CEO of Panpharma, commented: "We are looking forward to the long-term strategic partnership and cooperation with Celesio."

Press contact:

Rainer Berghausen, Celesio AG, +49 (0)711.5001-549, media@celesio.com

About Celesio Group:

Celesio is a leading international company which covers the spectrum of pharmaceutical trade and pharmaceutical-related services. The group is active in 14 countries and employs around 38,000 peopl
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SOURCE Celesio AG
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