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Following a satisfactory 2023, resulting in another record for both revenue and operating profit, Orifarm now prepares for further growth.  Highlights from the 2023 accounts: Revenue increased by 3.6% to €1.567,7 million, which is a new record for Orifarm.  The Pharma Trade unit, which among others includes parallel import of pharmaceuticals, sets a new revenue record for the seventh consecutive year.  The gross profit increased by 16.3% to €268.3 million, while the operating profit increased by 29% to €76.0 million.    2023 was characterized by optimizing internal processes as part of the integration process after acquiring over 100 products and two production sites from Takeda in 2020.  The high level of investments from the year before was maintained, meaning that Orifarm collectively has spent €90.8 million on improvements over the past four years.  The number of employees increased by 5% compared to the previous year to a total of 2,242 employees (average number of full-time employees)  Orifarm, one of Europe’s largest parallel importers of pharmaceuticals, Revenue increased by almost 4% to €1.567,7 million, which is the highest revenue yet in the family-owned business headquartered in Denmark, shows the company’s financial statement for 2023 released today along with the company’s ESG report. The operating profit increased by a staggering 29% to yet another record of €76.0 million. The result is achieved despite Orifarm in 2023 spending €28.0 million on restructuring and integration following the acquisition of products and production sites from Takeda in 2020 as well as expenses covering the closing of the impacted negatively from low currency rates in Sweden and Norway. However, only deeming the financial statement satisfactory is due to the annual profit after financial items decreasing by approximately 13% to €22.4 million. This is caused mainly by a significant increase in interest payments impacted by increasing inflation and the high interest rates derived. “2023 was characterized by a focused effort to serve our customers and patients while implementing internal improvements. We addressed the supply chain issues stemming from the acquisition in 2020, while also further optimizing and professionalizing our business,” says CEO of Orifarm, Erik Sandberg, commenting on the financial statement. Record revenue for the seventh consecutive year “I am particularly pleased that our parallel imports business has set another record for both revenue and gross profit for the seventh consecutive year. It is a fantastic result in a market with increased competition and price pressure. At the same time, our generic pharmaceuticals show progress after a period with supply issues following the acquisition of more than 100 products and two production sites in 2020. Those issues are now solved, and the coming years look promising,” says Erik Sandberg.   During 2023, Orifarm has invested more than €25.6 million in improving the company’s processes and systems as well as inaugurating a new building at its headquarters in Denmark, which houses approximately 700 of the company’s nearly 2,300 employees.  Collectively, Orifarm has invested more than €90.8 million in improvements preparing the company for further growth in the coming years. 2024 expectations For 2024, Orifarm expects its revenue to grow by up to 10%, while the operating profit is expected to increase by between 5 and 15%. Growth is to occur organically as well as through acquisitions. “Orifarm is in a good position focusing on further growth in a market permeated by tough price competition. We have a strong platform in the Nordics, where we want to strengthen our portfolio and the strong product brands, we acquired in 2020 further. We also see potential in our German business, which year after year performs very well, with room for further growth,” says Erik Sandberg about the expectations for 2024. Additional information  For additional information, please contact VP Corporate Communications in Orifarm, Kristian Lysgaard, on +45 2556 8561 or krlys@orifarm.com.   

Following the successful integration of assets and people from Takeda, Orifarm will now simplify the business model. “Since the acquisition of the Takeda assets almost three years ago, Orifarm has changed quite significantly. We have integrated new businesses, we expanded into new geographies, and we welcomed many new colleagues. The combined effort of everyone in Orifarm has taken us far, and today we have a strong platform for continuous growth,” says CEO Erik Sandberg. A significant change will be the merger of the two business areas, Health Access and Healthcare, as they will be combined into one business area. “In order to sharpen our profile and offering towards our customers will we merge our two commercial business units into one, ensuring that we face the customers as one unified commercial organization,” says Erik Sandberg. To match the new commercial set up, Orifarm has decided to combine supply chains into one business unit covering sourcing and supply chain. Finally, Orifarm will adjust the rest of the organization to match the commercial setup and ensure efficient processes and an agile organization ready to respond to customer’s need. “With this restructuring we would like to prepare Orifarm for future growth by ensuring one face to the customer and operating in a more agile and lean organization,” says Erik Sandberg. Changes to the Executive Management Group As a consequence of the new organizational structure, a few changes to the Executive Management Group have been implemented. The combined commercial business unit will be headed by Thomas Brandhof, who will assume the role as Chief Commercial Officer, responsible for the entire portfolio and markets. Thomas was previously Chief Commercial Officer in Orifarm´s Health Access business unit.. Thomas Hedegaard has been promoted and will assume the position as Chief Sourcing Officer. Thomas was previously Vice President of Procurement in Orifarm’s Health Access business unit. The role as Chief Sourcing Officer is new in Orifarm, and Thomas will play a vital role in leading and developing an end-to-end supply chain, covering both the former Health Access and Healthcare business units.  There will be no changes to support functions, except that Corporate Communications will move to Global People & Culture headed by Chief People Officer, Andreas Friis. Consequently, VP, Corporate Communication Kristian Lysgaard steps out of EMG. Unfortunately, the changes also mean that Chief Commercial Officer, Orifarm Healthcare, Dennis Dencher, will leave Orifarm as his position is terminated. “It is with regret, we have to say goodbye to Dennis. He has been deeply involved in integrating the assets we acquired from Takeda, including welcoming more than 600 people and ensuring a successful integration. Dennis can be immensely proud of his significant contribution, and I wish him all the best going forward,” says CEO Erik Sandberg. The new Executive Management Group Chief Executive Officer Erik Sandberg Chief Financial Officer Jacob Berg Lucassen Chief Commercial Officer Thomas Brandhof Chief Sourcing Officer Thomas Hedegaard Chief People Officer Andreas Friis Chief Information Officer Klaus Mortensen Chief Corporate Compliance Officer Birgitte Røddik Corporate Development Officer Ulrik Markussen

This weekend football talents from Denmark and abroad come together when the Christian Eriksen Cup kicks off just minutes from Orifarm’s headquarter.  “At Orifarm, we work every day to create healthy days for as many people as possible. As a National Partner, we have the opportunity to work toward that goal beyond Pharma. By promoting youth communities centered around sports, we support not only football talents but also an active community that fosters joy and health,” says Erik Sandberg, CEO at Orifarm.  Read the full announcement here: https://lnkd.in/dDb5Jvs5 

Orifarm is proud to sponsor Sport’n’Charity – an organization helping children affected by cancer by offering physical activity known to improve the children's health in this vulnerable time. Orifarm is proud to sponsor Sport’n’Charity who helps children affected by cancer by offering individual training programs suitable to the course of their illness.  Scientific research shows that children and youth affected by cancer who are physically active during and after their cancer treatments can limit the risk of complications, illnesses, and disabilities. Sport’n’Charity is a cause truly close to our hearts in Orifarm. We are united in one, simple purpose: for as many as possible, as healthy a day as possible. “Orifarm exists to bring healthy days to as many as possible. Sport’n’Charity is about just that. Recognizing that we all have different challenges and possibilities, we are more than happy to support the work done by this fantastic organization to enable as healthy a day as possible for children that are fighting to overcome physical challenges second to none. These children are incredible, and we are genuinely proud to support them on this tough journey,” says Erik Sandberg, CEO of Orifarm. In collaboration with physiotherapists and training specialists, a training program is developed individually for every child. This means that the activities are tailored to the child’s course of illness; some train at home and some while in hospital. Research further shows that children affected by cancer who are physically active with others are more motivated to complete the training and do so for a longer period of time, which is why also their families and friends are welcome to join the training program. You can learn more about Sport’n’Charity here (information in Danish): www.sportncharity.dk

Danish pharma company Orifarm, leading in parallel import in the EU and owner of numerous healthcare brands, announces its recent appointment of Birgitte Røddik as new Chief Corporate Compliance Officer. Birgitte Røddik takes on the role of Chief Corporate Compliance Officer in Danish pharma company Orifarm. Holding a Master’s in Science and having held positions in Medtronic and Novo Nordisk, Birgitte Røddik brings valuable insights from the pharmaceutical industry. “I am very happy to welcome Birgitte Røddik to the Orifarm team. Birgitte Røddik joins us with comprehensive experience from the industry, combining the quality function with operational planning and commercial outlook. With this insight, she is to ensure that our high-quality mindset persists throughout our organization, making sure that the quality of Orifarm products is maintained from manufacturer to supplier to end-user. Patient safety is our top priority,” says CEO of Orifarm, Erik Sandberg. With more than 25 years' experience in developing and executing strategy into viable implementation plans and operating models and combining these with quality, regulatory affairs, and operations excellence, Birgitte Røddik seeks to further develop the important compliance function at Orifarm: “Orifarm plays a substantial role in society when it comes to making medicine accessible at affordable costs. I look forward to continuing the work in Corporate Quality Compliance, ensuring that we support the transformation of Orifarm so that Orifarm continues to be a customer-centered and healthy business as well as a great place to work. I look very much forward to collaborating with the competent team in Orifarm and supporting the exciting growth that lies ahead for Orifarm,” Birgitte Røddik says. Birgitte Røddik had her first day at Orifarm on 01 December 2023. She most recently held the position as Partner in consultant agency Valcon.

In November, Orifarm introduced Apovit food supplement at a pharmacy exhibition, attended by nearly 5,500 Finnish pharmacy workers.  The product lines launched are part of the Apovit Immune Boost effervescent tablet series. The Apovit Immune Boost products contain vitamin C and D, and the most popular flavors are made from real ginger and cranberry.  Previously exclusive to Denmark, Apovit's expansion into the Finnish market is a great milestone for Orifarm. We are very excited to introduce this beloved food supplement brand to a whole new audience.  A big thank you to everyone who played a role in making this launch a resounding success!  Read more about Apovit here: https://orifarmhealth.fi/tuotemerkit/apovit (In Finnish) https://www.apovit.dk/ (In Danish)

Orifarm is donating 4.5 tons of food supplements with short expiry dates to the Danish nonprofit organization Fødevarebanken.   Fødevarebanken fights food waste and food poverty in Denmark by distributing donated food to social organizations who provide care for people in need. “By collaborating with Fødevarebanken food supplements and vitamins that would otherwise be scrapped are put to good use – just as they were intended. The food supplements include products for pregnant women and babies, as well as multivitamins and omega-3 products. At Orifarm, we work to create healthy days for as many as possible. This collaboration is very close to our hearts and DNA,” says Lars Uglebjerg Olsen, Head of Global Innovation, OTC & Consumer Healthcare in Orifarm.  Today, Fødevarebanken collected 23 pallets of food supplements at Orifarm in Odense, Denmark, and we couldn’t be happier to see thousands of packets of great healthcare products being distributed to people in need. 

Closing our Viminco production site in Skælskør, Denmark, we've prioritized comprehensive support for impacted employees. While our outplacement efforts aimed to assist all, it became evident that the outplacement initiatives were not ideal for our colleagues aged 60 and above.  That’s why we're offering a unique opportunity to our colleagues aged 60 and above affected by the closure of the site in Skælskør.  Recognizing their imminent transition into retirement, we've extended a tailored package that allows them to convert various support elements—such as salary increments, stay-on bonuses, outplacement assistance, and educational support—into a prolonged employment period.  This approach allows for transitioning directly from active employment into retirement without the pressure of seeking new job opportunities.  "It is important for us that all of our employees are treated with care and respect, and we are committed to supporting colleagues at every stage of their career – from entry to exit. We experienced that a group of employees would not benefit from the support, so we decided to offer our affected employees aged 60 and above the option to convert the offered support into a longer employment period, allowing them to prolong their employments until their retirement," shares Camilla Risum Amjadi, HR Business Partner in Orifarm.  The employees will have their employment period prolonged, but will be placed on garden leave until the site closes.  Production activities at the Viminco site in Skælskør, Denmark, have ceased, moving operations to other Orifarm production sites in Denmark and Poland. 

The large Danish pharma company Orifarm, leading in parallel import in the EU, has appointed Andreas Friis as its new Chief People Officer. Andreas Friis joins Danish pharmaceutical company Orifarm as Chief People Officer. Having previously held positions in Novo Nordisk for 11 years, Andreas Friis joins Orifarm with experience from the industry, including from pharmaceutical manufacturing at the benefit of Orifarm, who in addition to its support and sales functions also comprise three manufacturing sites globally.  The appointment of Andreas Friis comes at a time when Orifarm following a large acquisition of more than 100 new brands from pharmaceutical company Takeda, and consequently onboarded more than 900 new employees, now looking to develop the people area further to support the overall further development of the company.   “In Orifarm we see our people as our most valuable asset. That is why it has been important to find the right fit, searching for a person who can support Orifarm’s growth journey and assist in developing our organization further. I am very pleased to welcome Andreas Friis to Orifarm. With Andreas, we welcome a highly skilled HR leader, who not only has vast experience from various areas within HR, but who also comes with experience from our industry,” says Erik Sandberg, CEO of Orifarm.  A task Andreas Friis looks forward to undertaking:  “I look very much forward to joining Orifarm, and to assisting in developing the business further. I believe in keeping things simple and dynamic, and I find Orifarm’s founders’ mindset of entrepreneurship and maneuverability as a good point of departure in doing so,” says Andreas Friis.  Andreas Friis has his first day at Orifarm on 01 December 2023. He recently held a position as Responsible for People & Organization in the large Danish food company Danish Crown.