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Tamro increases ownership in ZAO ROSTA in Russia to 42,5%
Tamro has increased its ownership in Russia’s third largest pharmaceutical wholesaler ZAO Rosta to 42,5%. Previously Tamro owned a 18% share in the company. The deal is pending approval from Russian competition authorities.
ZAO Rosta, with a turnover of approximately EUR 400 million, is one of seven nationwide pharmaceutical wholesalers in Russia. The company employs 1600 persons in 25 distribution centers, which range from St. Petersburg to Vladivostok. According to available market statistics and our estimates, the Russian pharmaceutical market amounted to approximately EUR 4,5 billion in 2005 at wholesale prices. Market growth was between 15 and 20 percent.
"Pharmaceutical consumption in Russia is EUR 23 per capita, while the corresponding figure in Estonia is EUR 91 and in Finland EUR 314", says Jo Langmoen, CEO & President of Tamro Group. "The growth potential in Russia is considerable, and we want to participate in the development of Russia’s pharmaceutical supply chain stronger than before".
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Tamro Group is the leading pharmaceutical wholesaler in Northern Europe with retail operations in Norway, Lithuania, Latvia and Estonia. The Group operates in Northern Europe, Poland and through a minority share in Russia. Tamro's average share of pharmaceutical wholesaling in the Nordic countries is approx. 52%. Headquartered in Vantaa, Finland, Tamro employs over 4500 people and produces annual revenues of approximately EUR 4,9 billion.