For major manufacturers, the advantage of Omnicare is the ability to access compounding pharmacies across Germany without having to employ a dispersed salesforce. Meanwhile, the pharmacies benefit from knowledge-sharing and superior pricing, and adhere to quality and assurance standards. As a result, Omnicare facilitates better and more individual care in a widespread network of outpatient centres, with in-house treatment using quality-assured medication.
“It’s a highly scalable oncology platform with a clear governance structure that yields attractive margins compared to general pharma wholesalers. That’s why it’s one-of-a-kind,” says Alexis.
The company has strong growth opportunities within the German market. That is partly because the incidence of cancer is rising. In addition, the company is looking at other types of cancer and treatments to move into, either organically or through add-ons. Omnicare’s unusual structure also means it enjoys high barriers to entry. “Your business partners are dozens of small pharmacy owners, who must get onboard, agree to one document, one strategy and put their own money in,” says Alexis. “You can only pull that off if you originate from the industry. Oliver is a pharmacist, and it took him many years to develop the structure.”