IBSA Group relaunches its presence in South America through a strategic partnership with Eurofarma18 February 2021
IBSA’s commercial development strategy in South America is taking shape. Thanks to its partnership with Eurofarma, a Brazilian multinational pharmaceutical company, IBSA is targeting the markets of Ecuador, Colombia and Peru with four fertility treatment products. The timeline of operations has also been defined: the entry into Ecuador will start by March, followed by a focus on Colombia in May and finally Peru in the third quarter.
“This is not really an entry into this Country, since IBSA branded products have already been marketed in South America for almost twenty years. Rather, the operation constitutes a commercial ‘relaunch’, strengthening IBSA’s presence in the area. Above all, it is another very important part of the development strategy planned for the coming years”, comments Carmen Vigorelli, IBSA Sr International Sales Manager.
Indeed, in 2020, IBSA set out the guidelines for its commercial development, which include a desire to strengthen certain strategic partnerships and to enter into new agreements. The relationships that IBSA intends to consolidate or bolster with its new Partners must be based on a shared determination to grow and, above all, on the Partner’s ability to invest together with IBSA in the target markets in order to jointly support the effort to enter or re-enter the market.
This is why IBSA chose Eurofarma for South America, a Brazilian multinational founded in 1972 and currently operating in various therapeutic fields in 20 countries in Central and South America, Africa and the Caribbean, with the possibility to expand its presence around the world. The 5-year agreement considers a portfolio of four products all focused on fertility treatment.
“This move is highly strategic for us, as we continue with our internationalization plan and increasing more rapidly our presence in South America. With the partnership, we will assume in the countries the commercialization of the products and we are certain that together we will achieve great sales results", says Martha Penna, Eurofarma vice president of Innovation.
The collaboration with Eurofarma begins in Argentina, a market where the two companies are already working together. “It has been a long and complicated negotiation since the two companies are dealing with three different countries and four products, some of which are still in the registration stage, led by IBSA’s International Business Operations department with Eurofarma’s Business Development working closely with IBSA Regulatory Affairs division to get this important agreement signed”, says Carmen Vigorelli. The driving force behind IBSA’s new partnerships, and certainly behind the consolidation of its relationship with Eurofarma, is therefore a desire for joint growth, as well as shared corporate values and a common mission.