Neuraxpharm strengthens European presence with expansion into the Nordics07 April 2021
Neuraxpharm, Europe's leading CNS specialty company, announces expansion into the
Establishes business unit in Stockholm and appoints Magnus Wassén as General Manager Neuraxpharm Nordics
Düsseldorf and Barcelona, April 7, 2021 - Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on the central nervous system (CNS), is expanding its business into Northern Europe. The new business unit, based in Stockholm, will be led by Magnus Wassén, General Manager Neuraxpharm Nordics, and will leverage Neuraxpharm’s CNS expertise to offer suitable products from the company´s extensive portfolio in the Nordic markets.
Neuraxpharm Sweden will cover the country markets of Sweden, Norway, Finland, Denmark and Iceland. Through this expansion, Neuraxpharm strengthens its position as the leading CNS specialist in Europe and successively establishes the brand in further strong-selling markets. In Sweden, Norway and Finland combined, the CNS market is growing by an average of 8%(1), with Sweden alone representing the ninth largest CNS market in Europe(1) with a volume of over EUR 650 million (1).
Magnus Wassén has been appointed General Manager Neuraxpharm Nordics, effective April 1, 2021. Wassén was most recently Head of External Affairs & Market Access for Sweden at Viatris, a global healthcare company recently formed through the merger of Mylan and Upjohn. Magnus Wassén has several years of experience leading various divisions in pharmaceutical companies and is a proven expert in market access, launching and marketing of pharmaceuticals in the Nordic region. Neuraxpharm will benefit from Wassén's commercial experience and his diverse knowledge of the CNS area.
Through the business expansion and appointment of Magnus Wassén, Neuraxpharm now has both a strong platform and the necessary local expertise to launch new products and solutions in the economically important Nordic markets. In the first instance, Neuraxpharm Sweden will provide an immediate sales platform for the recently acquired market-leading prescription brand Buccolam® for the emergency treatment of children and adolescents suffering from epilepsy. Buccolam® is already an established and much demanded brand in Sweden, Norway, Finland and Denmark, making Neuraxpharm geographically well positioned to meet this demand with its new business unit. Looking ahead, the focus will be on building an operational base for value-added medicines for the treatment of central nervous system disorders, where Neuraxpharm has a strong, ever-growing portfolio.
With its entry into the Nordics, Neuraxpharm is consistently pursuing its European expansion strategy and has increased its presence from two to 18 countries in just five years. The establishment of Neuraxpharm in Sweden is the first country-specific expansion in Europe since the change of ownership to Permira in December last year. In January, Neuraxpharm reached a milestone outside Europe when it expanded its business activities to the important Japanese market with the launch of Buccolam®.
Dr. Jörg-Thomas Dierks, CEO of Neuraxpharm, commented: "With the expansion into the Nordics, we are continuing to implement our strategy to establish Neuraxpharm as the leading specialty company for the treatment of CNS diseases. I am very pleased that, thanks to Neuraxpharm Sweden, we can now take the next step into the important Nordic markets. With Magnus Wassén, we have not only gained a proven expert in the region, but also an executive with extensive experience in the pharmaceutical sector. Together, we will continue our commitment to patients and healthcare professionals and offer a diversified range of CNS products in a growing number of countries."
Magnus Wassén, General Manager Neuraxpharm Nordics, added: "I am looking forward to working with Neuraxpharm's highly motivated team of experts. Together, we will establish the Group as the leading CNS specialist with a comprehensive portfolio across the five Nordic countries. With Buccolam® we are starting our business with a well-established and successful emergency drug. Based on this, we will add further drugs to our portfolio that are in demand in the Nordic market."
Neuraxpharm announced at the end of January that, together with its partner company Panaxia, it has been selected as part of a pilot program to provide medical cannabis in France. With this step, Neuraxpharm consolidates its position as one of the first pharmaceutical companies to distribute medical cannabis in Europe. At the beginning of this year, Neuraxpharm added medical cannabis to its portfolio in Germany, which represents the largest market for medical cannabis outside the U.S.
(1) Source: IQVIA
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