Nora Pharma continues its growth momentum by acquiring assets of Pharmapar
Saint-Lambert, March 1st, 2022. Nora Pharma, a Canadian pharmaceutical company specializing in the distribution of generic and specialty drugs across the country, has acquired the assets of Pharmapar, a Quebec-based company that has been distributing generic drugs for over 20 years. The official announcement was made in Varennes on February 28, 2022, and the agreement is effective as of March 1, 2022.
“This acquisition marks another major turning point in our company’s history. Today, we are solidifying Nora’s presence in Quebec, while continuing the expansion of our activities from coast to coast. In addition, we are bringing the Priva brand back under full Quebec control while highlighting the rich history of the last 20 years of Pharmapar, where I started my career in pharma. Finally, it is another strong signal that we are sending to market: we will be a key player in the Canadian pharmaceutical industry.” – Malek Chamoun, President.
The acquisition of some of Pharmapar’s assets is part of Nora Pharma’s strategy to be a key player in the Canadian pharmaceutical landscape. Nora Pharma’s mission is to innovate in the Canadian pharmaceutical ecosystem as a growth partner for pharmacists by providing patients with access to affordable, high quality pharmaceutical products. The acquisition of some of Pharmapar’s assets will allow Nora Pharma to enhance its product portfolio. Furthermore, with the addition of resources to the sales team, this will increase Nora Pharma’s presence in pharmacies across Quebec.
As part of this acquisition, Nora Pharma will add 15,000 square feet of infrastructure to its assets, including a state-of-the-art warehouse. “We want to continue to offer the best customer experience in the market and this acquisition confirms our intention.” -Malek Chamoun, President.
In addition to signing a biosimilar launch agreement a few months ago and doubling its sales in the last year, Nora Pharma expects to accelerate its growth plan with this acquisition. Customers loyal to Pharmapar will now have access to Nora Pharma’s and its partners’ extensive product line, which includes more than 120 products.
“Pharmapar has been a specialized company for distributing generic drugs while offering value-added services in Quebec pharmacies since 1998. Since inception, we have been offering a range of benefits and peace of mind to our strong clientele base. We are proud today to have chosen Nora as the company that will support these customers in the future. We are confident that this young company will continue the legacy and provide the best-in-class services to Quebec pharmacies.” – Sylvain Duvernay, General Manager.
About Nora Pharma
Nora Pharma is a Canadian pharmaceutical company specializing in the distribution of generic and specialty drugs across the country. Nora Pharma is positioned as a partner of choice in providing services to pharmacies and their patients.
In business for over 20 years, Pharmapar specializes in the distribution of generic drugs in Quebec.
For more information or media requests: Alexandra Bégin, [email protected], 450-904-2355