Profarma

Profarma is a market-leading pharmaceutical distributor in Brazil. The market is currently fragmented at both the retail point of sale and at the distribution level, allowing a great deal of scope for the company to consolidate weaker players and take cost out of the supply chain, whilst preserving pricing power over its customers. Since drugs bear virtually no government subsidy in Brazil, Profarma should see all the benefits of rising real incomes amongst the burgeoning middle class population.