Neuraxpharm aims to build its position as a CNS specialist in Portugal offering its wide portfolio of branded and consumer healthcare products in the Portuguese market for the first time. Neuraxpharm will leverage its industry networks and CNS expertise to make its extensive portfolio available to patients. The company is planning the first commercial launch in December this year with a probiotic product.
Javier Mercadé, general manager of Italy and Spain, was appointed head of Southern Region earlier this year, which will include Spain, Italy and Portugal. Neuraxpharm also announced the appointment of Teng Dias as commercial director of the Portugal business.
Potential in 500 million-euro CNS sector
Commenting on the development, group chief executive Jörg-Thomas Dierks said: “Neuraxpharm Portugal demonstrates our ambition to be a leading CNS player across Europe. Portugal is an exciting market with a potential of over 500 million euros [$550 million] in CNS. Javier’s outstanding experience in CNS and international markets combined with Teng’s deep knowledge of the Portuguese market will be invaluable in bringing differentiated products to local patients and healthcare professionals across the region."
“With its CNS market growing at 5%, one of the fastest in Europe, Portugal represents an excellent opportunity to expand our presence in Southern Europe. Our broad range of differentiated products aims to target the large unmet needs of CNS patients,” added Mr Mercadé.
The news announced today follows Neuraxpharm's rapid growth in Europe this year which includes expansion in Eastern Europe through the acquisition of Farmax and establishment of operations in Poland and the UK. This is in addition to the launch of new products including probiotics and the acquisition of STU’s cannabidiol (CBD) business in Switzerland.