Industrial Farmacéutica Cantabria opens a new subsidiary in China
IFC . 02/10/2017
Within the framework of its sustained, entrepreneurial, internationalisation process, Industrial Farmacéutica Cantabria (IFC) is set to arrive in China after signing strategic commercial agreement with local partners. From February 2018, IFC market the brands Endocare and Heliocare in China, with a forecasted turnover of 8 million euros in the 2018 for this market.
With this joint venture, Industrial Farmacéutica Cantabria – which already marketed Endocare products in China – consolidates its ambitious international expansion plan in a strategic market. The company, 100% Spanish-owned, already has five other subsidiaries abroad (Portugal, Italy, Morocco, Germany and Mexico) and, in the last five years, it has opened markets in 20 countries, including Russia, Japan, Qatar and China. In total, between its subsidiaries and alliances with local distributors, IFC has presence in over 80 countries.
In the words of the CEO of Industrial Farmacéutica Cantabria, Juan Matji, “we are on a self-made growth path. Internationalisation is one of the company’s core principles of its business and our arrival in China, a key market for growth in the healthcare sector, poses a challenge for a company such as Industrial Farmacéutica Cantabria, which carries entrepreneurialism in its genes”.
At close of 2017, IFC forecasts a global turnover of 150 million euros, with 60% coming from international business.
In the forthcoming months, Industrial Farmacéutica Cantabria is set to start the construction of a new and innovative production plant in Cantabria, with a planned investment of 20 million euros, facilities that will enable the company to markedly increase production as of 2020.