“The deregulation of the Swedish pharmaceutical retail market and the acquisition of pharmacies is an important strategic step and an excellent investment opportunity for us in Sweden. Kronans Droghandel has been building a retail organisation since August 2008 and has made considerable investments in preparing for this opportunity. A pharmacy concept designed for the Swedish market, a thorough take-over plan and a strong organisation are in place to support our long-term strategies and goals. Based on our combined experience and all measures taken, Kronans Droghandel is in an excellent position to ensure an uninterrupted and secure flow of pharmaceuticals under all circumstances in Sweden,” said Eero Hautaniemi, President and CEO of Oriola-KD Corporation, and Lars Idermark, President and CEO of Kooperativa Förbundet.
Proforma net sales of the 171 pharmacies in 2008 were SEK 4.4 billion, 14.5 per cent of Swedish pharmacy market.
On 29 April 2009, the Swedish Parliament decided to dismantle the country’s pharmacy monopoly as of 1 July 2009. The deregulation of the pharmacy market makes it possible for operators other than Apoteket AB to engage in the pharmacy business in Sweden. With the deregulation, the seller announced that 466 pharmacies would be sold to large and medium-sized companies, while 150 pharmacies remaining in state ownership would later be sold to small entrepreneurs. Apoteket AB will retain ownership of 330 pharmacies. The total value of Swedish pharmacy market in 2008 was some SEK 30.3 billion.Back to transactions