Both managing directors Gerhard Mayer and Jochen Schlindwein, who direct the corporate group together with partner Monika Wörwag, presented the financial results for 2019 as well as the forecast for 2020 at a press conference in Böblingen.
The countries with the highest sales are Germany with 40.0 million euros, which corresponds to an 8.5 percent increase in sales, and Russia with a 10.6 percent increase to 36.1 million euros.
The strongest growth is in Romania with a 30.6 percent increase in sales, the Western Balkan countries with a 32.5 percent increase, and Poland with a 15.6 percent increase.
In addition to existing markets, Wörwag Pharma is expanding in Asia, South America and the Middle East. New sales offices were opened in 2019 in Thailand and the Philippines.
Sales in Asia, particularly in Vietnam, enjoyed very positive growth in 2019. They rose to 1.9 million euros which is an increase of 42.5 percent compared to the previous year. The reasons for this include the expansion of the sales team and the acquisition of additional hospitals in which Wörwag Pharma medicinal products were added to the list of recommended products.
In the fourth quarter of 2020, a sales office will be launched in the United Arab Emirates in Dubai and it will be the first in this region.
Wörwag Pharma, with its 1000 employees, sells its biofactor products, that is, vitamins, minerals and trace elements, in more than 35 countries. Sixteen new products were introduced worldwide in 2019 and twenty new market launches are planned for 2020.
The main therapeutic areas are the treatment and prevention of diabetic comorbidities, in particular nerve disorders, and use in cases of pain and neuralgia.
Jochen Schlindwein: “We are delighted that we were able to continue our growth track in 2019 and we foresee positive development for 2020 as well.” Gerhard Mayer adds: “The growth is built on a very solid financial basis and we can therefore implement our planned investments. Apart from our new company building in Böblingen, these include, above all, product innovations and developments as well as clinical studies.”
Profile in brief
WÖRWAG Pharma GmbH & Co. KG is an internationally active pharmaceutical company. The company develops and markets biofactor preparations. The range of products of WÖRWAG Pharma includes prescription preparations as well as OTC ("over the counter") products and food supplements.
WÖRWAG Pharma is a family-owned company led by Monika Wörwag, Gerhard Mayer and Jochen Schlindwein. Dr. Fritz Wörwag founded the company in 1971 in Stuttgart. The headquarters are in Böblingen.
WÖRWAG Pharma GmbH & Co. KG
Dr. Beate Rzadtki
Tel.: +49 (0) 7031 62 04-338
Fax: +49 (0) 7031 62 04-32