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Proactive Strategic Planning to Meet the Challenges of 2010

Proactive Strategic Planning to Meet the Challenges of 2010

 

At the opening of the Meeting, Lavipharm’s Chairman & CEO, Dr. Athanase Lavidas, referring to the adverse economic situation, both at national and international level, highlighted: “Within this changing environment, and just before completing our first 100 years of operation, we, at Lavipharm, we promptly begun implementing a diligent business planning. We are moving forward, striving to increase productivity, continue our research work, create innovative products and to strengthen our international presence”. He continued: “We have already reduced, and we continue to do so, costs related to administration and commercial and manufacturing operations. Our goal is to increase substantially the volume of exports, focusing mainly on our international products, such as Trinipatch and Fentadur”.

An important announcement was made during the Meeting. Lavipharm’s fentanyl transdermal system Fentadur has received regulatory approval in 20 European countries through decentralized procedure. National approvals are estimated to be granted within 3 to 6 months, depending on each country’s procedures. Following that, all necessary steps will immediately commence for the rapid launch of the product to the local markets.

Regarding Lavipharm’s performance in 2009 and the financial results of Q1 2010, Mr. Chris Maniatis, Group Chief Financial Officer, presented the highlights of the financial statements. He also stated that the trend of market adjustment to normal after the recent price reduction of pharmaceutical products in Greece shows already in early June an increase in sales compared to previous months. Lavipharm’s Annual Shareholders Meeting concluded with the discussion and approval of the agenda.

Lavipharm is an integrated Group engaged in the research, development, manufacturing, marketing, sales, wholesaling, distribution, and retailing of pharmaceutical, cosmetic and consumer health products in Greece with a strong international activity.