- SteinCares assumes Sandoz’s portfolio in Colombia, strengthening its leading position in the Latin American specialty healthcare market.
- The agreement positions SteinCares to achieve over $50 million in sales in Colombia by 2024, establishing the country as the leading subsidiary within the group.
- Synergies between portfolios will generate added value for the Colombian healthcare system.
San Jose, Costa Rica, July 17th, 2023 – Stein Holding Group (“SteinCares”), one of Latin America’s leading specialty healthcare companies with presence in more than 30 countries, has announced a licensing agreement with Sandoz, a global pharmaceutical leader in Colombia. This strategic deal reinforces SteinCares’ solid position in the region and its commitment to providing high-quality healthcare products to patients in Latin America.
Effective July 1st, SteinCares assumes responsibility for commercializing and distributing Sandoz’ portfolio and commits to serving existing Colombian customers in therapeutic areas such as Hematology, Central Nervous System (CNS) and Oncology. The agreement includes a product portfolio than will enable sales of over USD 50 million by 2024 in Colombia, a significant milestone in the company’s expansion strategy, positioning the country as the flagship subsidiary.
“We are excited about the closing of this transaction with Sandoz, a global leader in pharmaceutical specialties, as it accelerates SteinCares’ growth and expansion strategy in the region and aligns with our long-term vision of providing greater access to innovative and cost-effective pharmaceuticals for Latin Americans,” said Mitchell Waserstein, CEO and Board Director of SteinCares. “This licensing agreement further strengthens our position as the partner of choice for global biotech and pharmaceutical companies seeking to enter the dynamic Latin American market.”
The company’s CEO also highlighted that the value-added synergies between both companies’ portfolios will enhance SteinCares’ product offerings for Colombian patients, providing access to high-cost treatments at affordable prices, while generating savings to the Colombian healthcare system.
SteinCares’ strong track record, reputation and expertise in the Latin American specialty healthcare market will drive Sandoz’s growth in Colombia, delivering value for patients and healthcare institutions. Leveraging SteinCares’ exceptional position in the pharmaceutical industry, the portfolio of highly complex medicines is anticipated to demonstrate strong performance.
The transition process will be handled smoothly to prioritize continuity of supply and ensure uninterrupted patient access to therapies. The companies’ teams are fully committed to providing exceptional service and support to all stakeholders during this process.
SteinCares is a leader in commercializing and distributing specialty healthcare products in Latin America, including innovative pharmaceuticals, biosimilars and complex generics. With more than 40 years of progressive healthcare experience and presence in more than 30 countries in Latin America and the Caribbean, SteinCares serves as a bridge between the world’s pharmaceutical companies and the region’s wellness providers.
The company is highly committed to creating healthcare opportunities that positively impact the lives of patients and their families in Latin America, as it has the vision to give more access to innovative and cost-effective healthcare to patients in the region.