LaborMed set to focus on cash generating markets

Stephen Stead, the British manager who runs LaborMed drug maker and who last year sealed two deals, the takeover of Ozone brands and of a 12-product portfolio from PlantExtrakt Cluj, this year will focus on the company’s international business, which “generates cash and profitability”. “Our focus will be on the Polish market, a base for Ozone operations. It’s a much more stable climate, a large market, and we have many products undergoing registration here. The main plus is cash. We have much better payment terms, compared with Romania, where the situation is disastrous. Poland is normal from this point of view,” said Stead, LaborMed CEO, in an interview with ZF. Takeovers have cemented LaborMed’s position on the OTC drugs market and secured it a foothold in Poland, Bulgaria, Hungary, the Czech Republic and Slovakia. After the two deals were completed, LaborMed structured the company into 3 units: LaborMed (prescription drugs), Ozone (OTC drugs) and Ozone Natural (natural products). “We expect LaborMed turnover to revolve around 70m euros this year,” Stead said.