Wörwag Pharma

Wörwag Pharma is an independent[1] family-owned[2] pharmaceutical company headquartered in Böblingen, Germany.[3] It was founded in 1971 by Fritz Wörwag, a pharmacist. It sells prescription and over-the-counter preparations as well as food supplements.[4]

Wörwag Pharma GmbH & Co. KG
private (GmbH & Co. KG)
IndustryPharmaceutical industry
Founded1971 (1971) in Stuttgart, Baden-Württemberg, Germany
FounderFritz Wörwag
HeadquartersBöblingen, Baden-Württemberg, Germany
Area served
worldwide
Key people
  • Monika Wörwag
  • Gerhard Mayer
  • Jochen Schlindwein
ProductsMedicinal products
Brands
Revenue €234.1 million (2019)
OwnerWörwag family
Number of employees
 approx. 1,000 (2019)
SubsidiariesAAA-Pharma GmbH
Websitewww.woerwagpharma.de/en/
Monika Wörwag, Gerhard Mayer, and Jochen Schlindwein (managing directors)

Wörwag Pharma specializes in biofactors,[5] which include vitamins, minerals, and trace elements.[5]

History

The city pharmacy was founded in 1965 in Stuttgart-Zuffenhausen. In the early 1970s, the owner Fritz Wörwag started producing and selling his own pharmaceutical products.[6] This formed the basis for the founding of Wörwag Pharma in 1971.[7] The best-known preparations from the initial years included Magnerot Classic (magnesium orotate) and Milgamma (benfotiamine).[8] To accelerate the development of the business, the company was converted into a corporation in 1977.[9]

Wörwag Pharma became a specialist for vitamins and trace elements[10] and a manufacturer of generics.[11] In 1993, a branch opened in Hungary – the first international site outside of Germany – and later, other branches in Eastern Europe, Russia, and Central Asia were added.[8][12] Since then, Wörwag Pharma has also been present in Asian and South American countries, for example, in Vietnam and Peru.[13]

In 1996, Wörwag Pharma relocated its head office from Stuttgart to Böblingen.[14][15] 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.[4] They spun off the generics business in 2015 into the independent subsidiary AAA-Pharma.[16] In January 2019, Marcus Wörwag moved from the management to the advisory board, where he continues to shape the strategic direction of the group.

Products

Wörwag Pharma offers medicinal products for the prevention and treatment of the concomitant diseases and complications of diabetes, for neuralgia and pain, as well as to maintain mental fitness. Overall, the company's product range includes 26 biofactor brands in Germany alone.[17] Magnerot and Milgamma are still two significant brands in Wörwag Pharma’s product range.[4]

Structure

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 company founder.[18] Besides, he 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 acts as the holding company for the domestic and foreign subsidiaries.[19] Wörwag Pharma International GmbH controls the international subsidiaries.[20]

The management of Wörwag Pharma consists of Monika Wörwag as well as Gerhard Mayer and Jochen Schlindwein, both commercial directors.[21] All are authorized signatories of Wörwag Pharma GmbH & Co. KG and at the same time are also directors of Dr. Fritz Wörwag GmbH.[3][18]

Locations

On the Flugfeld, an inter-municipal residential area and industrial park between Böblingen and Sindelfingen, Wörwag Pharma is currently erecting a new company building which meets the company's growing needs;[22] the move is planned for 2021.[23] In addition to the head office in Böblingen, there are currently 19 country offices in Almaty, Baku, Belgrade, Bratislava, Budapest, Chișinău, Cluj-Napoca, Ho Chi Minh City, Hong Kong, Kiev, Lima, Ljubljana, Minsk, Moscow, Beijing, Riga, Sofia, Tashkent, Tbilisi, and Warsaw. These offices manage the business in about 30 countries.[24]

References
  1. Hofmann, Siegfried (December 2, 2003). "Pharma-Mittelständlern fehlt Finanzkraft". Handelsblatt (in German). p. 16. Retrieved October 25, 2018.
  2. "Diese Clans sind Pharma-Deutschland". Apotheke Adhoc (in German). June 27, 2016. Retrieved October 25, 2018.
  3. "Wörwag Pharma GmbH & Co. KG (Amtsgericht Stuttgart, HRA 242191)". Company Register. Bundesanzeiger Verlag. Retrieved October 25, 2018.
  4. "Vitamine für jedermann". Deutsche Apotheker Zeitung (in German). June 24, 2016. Retrieved October 25, 2018.
  5. Schlecht, Jan-Philipp (July 12, 2018). "Wörwag will weiter wachsen". Böblinger Bote (in German). Retrieved October 25, 2018.
  6. "Kurz informiert". Deutsches Ärzteblatt (in German) (18). 1997. Retrieved October 25, 2018.
  7. "Company Overview of Wörwag Pharma GmbH & Co. KG". Bloomberg. Retrieved October 25, 2018.
  8. Schumbach, Karoline (March 12, 2013). "Wörwag: Alles Gamma". Apotheke Adhoc (in German). Retrieved October 25, 2018.
  9. "Dr. Wörwag Pharmazeutische Präparate GmbH (Amtsgericht Stuttgart, HRB 7039)". Company Register. Bundesanzeiger Verlag. Retrieved October 25, 2018.
  10. Petersen, Ursula (1992). "Neue Präparate bei Wörwag Pharma". Deutsches Ärzteblatt (in German) (33). Retrieved October 25, 2018.
  11. Bohne, Andreas; Hofmann, Siegfried (September 13, 1996). "Pharmaindustrie: Nachahmerpräperate gewinnen an Bedeutung. Das Generikageschäft wird zum hart umkämpften Wachstumsmarkt". Handelsblatt (in German). p. 28.
  12. "Wörwag auf Expansionskurs". Böblinger Bote (in German). Retrieved August 10, 2018.
  13. "Profile". Wörwag Pharma. Retrieved October 23, 2018.
  14. Haasis, Kathrin (July 18, 2018). "Pharmafirma Wörwag zieht aufs Flugfeld". Stuttgarter Zeitung (in German). Retrieved August 10, 2018.
  15. "Wörwag Pharma GmbH (Amtsgericht Stuttgart, HRB 4154)". Company Register. Bundesanzeiger Verlag. Retrieved August 10, 2018.
  16. "Pharmakonzerne: Wer gehört zu wem?". Apotheke Adhoc (in German). Retrieved October 25, 2018.
  17. "Products". Wörwag Pharma. Retrieved August 10, 2018.
  18. "Dr. Fritz Wörwag GmbH (Amtsgericht Stuttgart, HRB 17815)". Company Register (in German). Bundesanzeiger Verlag. Retrieved October 25, 2018.
  19. "Wörwag Pharma Beteiligung GmbH (Amtsgericht Stuttgart, HRB 17799)". Company Register. Bundesanzeiger Verlag. Retrieved October 25, 2018.
  20. "Wörwag Pharma International GmbH (Amtsgericht Stuttgart, HRB 752468)". Company Register. Bundesanzeiger Verlag. Retrieved October 25, 2018.
  21. "Management". Wörwag Pharma. Retrieved January 30, 2019.
  22. Reichert, Karlheinz (July 7, 2018). "Gäubote". Gäubote (in German). Retrieved October 25, 2018.
  23. Haasis, Kathrin (July 18, 2018). "Pharmafirma Wörwag zieht aufs Flugfeld". Stuttgarter Nachrichten (in German). Retrieved October 25, 2018.
  24. "Locations". Wörwag Pharma. Retrieved October 25, 2018.
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