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Wörwag Pharma

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Wörwag Pharma GmbH & Co. KG
Company typeprivate (GmbH & Co. KG)
IndustryPharmaceutical industry
Founded1971; 53 years ago (1971) in Stuttgart, Baden-Württemberg, Germany
FounderFritz Wörwag
HeadquartersBöblingen, Baden-Württemberg, Germany
Area served
worldwide
Key people
  • Gerhard Mayer
  • Jochen Schlindwein
ProductsMedicinal products
Brands
RevenueIncrease €291 million (2022)
OwnerWörwag family
Number of employees
Increase 1.400 (2022)
SubsidiariesAAA-Pharma GmbH
Websitewww.woerwagpharma.de/en/

Wörwag Pharma is a medium-sized[1] family-owned[2] pharmaceutical company headquartered in Böblingen, Germany with subsidiaries in Asia, Europe and South America.[3] It was founded in 1971 by pharmacist Fritz Wörwag in Stuttgart.[4] It sells prescription and over-the-counter preparations and food supplements.[5]

Wörwag Pharma specializes in biofactors, which include vitamins, minerals, and trace elements.[6][7]

History

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Foundation

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The city pharmacy was founded in 1965 in Zuffenhausen, a district of Stuttgart.[8] In the early 1970s, the owner Fritz Wörwag started producing and selling his own pharmaceutical products,[9] which was the basis for the founding of Wörwag Pharma in the adjacent building of the pharmacy in 1971.[5][10] The company's first micronutrient preparation was Magnerot Classic for the treatment of magnesium deficiency.[11][12] To accelerate the development of the business, the company was converted into a corporation in 1977.[13] In 1985, the product range was expanded to include the drug Milgamma with the active ingredient benfotiamine, a prodrug of vitamin B1.[12]

Internationalization

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After the fall of the Berlin Wall, Wörwag Pharma focused on the newly opened market in Eastern Germany and continued to expand in the direction of Eastern Europe.[14][15] In 1993, a branch opened in Hungary – the first international site outside of Germany – and later, other branches in Bulgaria, Poland, Slovakia, Russia, and Central Asia were added.[11] Wörwag Pharma focused its production on vitamins, trace elements[16] and generic drugs.[17] Since then, Wörwag Pharma has also been present in Asian and South American countries, for example, in Vietnam and Peru.[18]

Further expansion

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In 1996, Wörwag Pharma relocated its head office from Stuttgart to Böblingen.[19][20] In 2001, the two children, Marcus Wörwag and Monika Wörwag, took over management of the company from their father.[2] They continued the expansion course of Wörwag Pharma and concentrated primarily on biofactors.[5] They spun off the generics business in 2015 into the independent subsidiary AAA-Pharma.[21] In January 2019, Marcus Wörwag moved from the management to the advisory board, where he continues to shape the strategic direction of the group.[22] In 2021, Monika Wörwag also withdrew from the management and has since been Director of Corporate Communications.[23] In April 2021, Wörwag Pharma acquired the Polish company Sensilab, a contract manufacturing organization based in Konstantynów Łódzki, and thus came into possession of its first own production facility for pharmaceuticals.[24] Since then, pharmaceuticals have been produced here for the company's own needs and in contract manufacturing under the new name Wörwag Pharma Operations.[20]

Products

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Wörwag Pharma offers medicinal products in the four categories diabetic concomitant diseases, nervous system, immune system and musculoskeletal system.[14] Wörwag Pharma refers to the products it sells as "biofactors".[25] Overall, the company's product range includes 26 biofactor brands in Germany. Magnerot and Milgamma are still two significant brands in Wörwag Pharma's product range.[5]

Company structure

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Wörwag Pharma GmbH & Co. KG is a limited partnership (Kommanditgesellschaft) according to German law. Its general partner is Dr. Fritz Wörwag GmbH, a limited liability company (Gesellschaft mit beschränkter Haftung),[3] wholly owned by the entrepreneurial family.[26] Besides, the founder and other family members are directly or indirectly involved as limited partners. The vast majority of liability contributions by the limited partners is apportioned to the family-owned Wörwag GmbH and Wörwag Pharma Beteiligung GmbH.[3]

The annual financial statements of Wörwag Pharma GmbH & Co. KG is included in the consolidated financial statements of Wörwag Pharma Beteiligung GmbH. The latter holds equity interests in three further domestic and ten foreign subsidiaries.[27] Wörwag Pharma International GmbH controls the international subsidiaries.[27] In addition to Wörwag Pharma GmbH & Co. KG, which is the largest subsidiary, this includes Fibeg Immobilien GmbH, Generosan GmbH and Wörwag Pharma International GmbH, the latter two controlling the international holdings. In addition, the holding company has a 35% stake in AAA-Pharma GmbH, which markets generics.[27]

Management

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The management of Wörwag Pharma consists of Gerhard Mayer and Jochen Schlindwein.[28] Mayer and Schlindwein are authorized signatories of Wörwag Pharma GmbH & Co. KG and at the same time are also directors of Dr. Fritz Wörwag GmbH.[3][26]

Locations

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On the Flugfeld, an inter-municipal residential area and industrial park between Böblingen and Sindelfingen, Wörwag Pharma moved into a new company building in 2022.[29] The previous company headquarters were located in the Calwer Straße in Böblingen.[30] In addition to the headquarters, there are more than 20 country offices, for instance in Almaty, Baku, Belgrade, Bratislava, Budapest, Chișinău, Cluj-Napoca, Ho Chi Minh City, Hong Kong, Kyiv, Lima, Ljubljana, Minsk, Moscow, Beijing, Riga, Sofia, Tashkent, Tbilisi, and Warsaw. These offices manage the business in about 35 countries.[31] The company also has its own production facility in Konstantynów Łódzki, Poland (near Łódź).[24]

Fritz Wörwag Research Award

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Since 1988, the company has been awarding the Fritz Wörwag Research Award, established by founder Fritz Wörwag and named after him, at irregular intervals.[32] The award is endowed with 10,000 euros and recognizes research papers and well-founded reviews that make significant contributions to new experimental or clinical findings in the field of biofactors. The award winners are selected by an independent jury.[33]

Awards

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  • 2021: IHK honorary certificate[34]

References

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  1. ^ Hofmann, Siegfried (December 2, 2003). "Pharma-Mittelständlern fehlt Finanzkraft". Handelsblatt (in German). p. 16. Retrieved October 25, 2018.
  2. ^ a b "Diese Clans sind Pharma-Deutschland". Apotheke Adhoc (in German). June 27, 2016. Retrieved October 25, 2018.
  3. ^ a b c d "Wörwag Pharma GmbH & Co. KG (Amtsgericht Stuttgart, HRA 242191)". Company Register. Bundesanzeiger Verlag. Retrieved October 25, 2018.
  4. ^ Wörwag Pharma. In: Stuttgarter Zeitung, p. 10. 26. May 2020.
  5. ^ a b c d "Vitamine für jedermann". Deutsche Apotheker Zeitung (in German). June 24, 2016. Retrieved October 25, 2018.
  6. ^ Schlecht, Jan-Philipp (July 12, 2018). "Wörwag will weiter wachsen". Böblinger Bote (in German). Retrieved October 25, 2018.
  7. ^ Frank, Jan; Kisters, Klaus; Stirban, Ovidiu Alin; Obeid, Rima; Lorkowski, Stefan; Wallert, Maria; Egert, Sarah; Podszun, Maren C.; Eckert, Gunter P.; Pettersen, Jacqueline A.; Venturelli, Sascha; Classen, Hans‐Georg; Golombek, Jana (July 1, 2021). "The role of biofactors in the prevention and treatment of age‐related diseases". BioFactors. 47 (4): 522–550. doi:10.1002/biof.1728. ISSN 0951-6433. PMID 33772908. S2CID 232386716.
  8. ^ Hollstein, Patrick. "Schlindwein wird CEO bei Wörwag". Apotheke Adhoc (in German). Retrieved May 3, 2023.
  9. ^ "Kurz informiert". Deutsches Ärzteblatt (in German). No. 18. 1997. Retrieved October 25, 2018.
  10. ^ "Company Overview of Wörwag Pharma GmbH & Co. KG". Bloomberg. Retrieved October 25, 2018.
  11. ^ a b Schumbach, Karoline (March 12, 2013). "Wörwag: Alles Gamma". Apotheke Adhoc (in German). Retrieved October 25, 2018.
  12. ^ a b Hollstein, Patrick. "Schlindwein wird CEO bei Wörwag". Apotheke Adhoc (in German). Retrieved May 3, 2023.
  13. ^ "Dr. Wörwag Pharmazeutische Präparate GmbH (Amtsgericht Stuttgart, HRB 7039)". Company Register. Bundesanzeiger Verlag. Retrieved October 25, 2018.
  14. ^ a b Gerhard Mayer, Geschäftsführer Wörwag Pharma (in German), June 28, 2021, retrieved May 3, 2023
  15. ^ Anja, Ettel (February 28, 2022). ""Dramatik der Ereignisse hat uns doch überrascht"". Die Welt. p. 9.
  16. ^ Petersen, Ursula (1992). "Neue Präparate bei Wörwag Pharma". Deutsches Ärzteblatt (in German). No. 33. Retrieved October 25, 2018.
  17. ^ Bohne, Andreas; Hofmann, Siegfried (September 13, 1996). "Pharmaindustrie: Nachahmerpräperate gewinnen an Bedeutung. Das Generikageschäft wird zum hart umkämpften Wachstumsmarkt". Handelsblatt (in German). p. 28.
  18. ^ "Profile". Wörwag Pharma. Retrieved October 23, 2018.
  19. ^ Haasis, Kathrin (July 18, 2018). "Pharmafirma Wörwag zieht aufs Flugfeld". Stuttgarter Zeitung (in German). Retrieved August 10, 2018.
  20. ^ a b "Wörwag Pharma GmbH (Amtsgericht Stuttgart, HRB 4154)". Company Register. Bundesanzeiger Verlag. Retrieved August 10, 2018.
  21. ^ "Pharmakonzerne: Wer gehört zu wem?". Apotheke Adhoc (in German). Retrieved October 25, 2018.
  22. ^ Leute, Leute ... In: Stuttgarter Zeitung, p. 21. 31. January 2019.
  23. ^ Raus aus der Geschäftsführung. In: Stuttgarter Zeitung, p. 16. 06. Februar 2021.
  24. ^ a b Co.KG, Wörwag Pharma GmbH & (April 24, 2023). "Wörwag Pharma kauft Produktionsunternehmen in Polen". Wörwag Pharma (in German). Retrieved May 3, 2023.
  25. ^ Co.KG, Wörwag Pharma GmbH & (March 22, 2022). "Was sind Biofaktoren?". Wörwag Pharma (in German). Retrieved May 3, 2023.
  26. ^ a b "Dr. Fritz Wörwag GmbH (Amtsgericht Stuttgart, HRB 17815)". Company Register (in German). Bundesanzeiger Verlag. Retrieved October 25, 2018.
  27. ^ a b c "Wörwag Pharma Beteiligung GmbH (Amtsgericht Stuttgart, HRB 17799)". Company Register. Bundesanzeiger Verlag. Retrieved October 25, 2018.
  28. ^ Wörwag mit ehrgeizigem Ziel. In: Reutlinger General-Anzeiger. 21. März 2023.
  29. ^ Schlecht, Jan-Philipp (February 17, 2022). "Böblinger Pharmaunternehmen: Wörwag wächst und zieht in neues Domizil". Kreiszeitung Böblinger Bote (in German). Retrieved May 3, 2023.
  30. ^ "Böblinger Pharmaunternehmen: Wörwag wächst weiter". Kreiszeitung Böblinger Bote (in German). April 1, 2021. Retrieved May 3, 2023.
  31. ^ "Locations". Wörwag Pharma. Retrieved October 25, 2018.
  32. ^ Co.KG, Wörwag Pharma GmbH & (April 29, 2022). "Forschung und Wissenschaft". Wörwag Pharma (in German). Retrieved May 3, 2023.
  33. ^ "Wörwag schreibt Forschungspreis aus". Ärzte Zeitung. Vol. 2/2021. January 15, 2021. p. 12.
  34. ^ Co.KG, Wörwag Pharma GmbH & (April 24, 2023). "IHK übergibt Ehrenurkunde". Wörwag Pharma (in German). Retrieved May 3, 2023.
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