A top of the range pharmaceutical industry

Remedica is a leading pharmaceutical industry based in Cyprus, and exporting to more than 160 countries.

It was established as a company in 1980 and specialises in the development, production and trading of high quality safe and effective medication for human use.

But its roots go back to 1960 to a different company that produced carbon dioxide at the time.

With a personnel of over 800 people, out of which 59% are women, including 51% of female personnel in management, Remedica realises that it can only achieve its goals through equal investment in its employees.

In 13 buildings

Today, the Remedica facilities in Limassol include 13 buildings covering a total area of more than 50 thousand square meters. Five are latest technology production factories, made up of a central facility for general use products and four additional ones for the production of penicillin derivatives, cephalosporins, certain types of hormones and anti-cancer medication.

Remedica, as the management declares, operates according to the international standards governing the relevant production practices, the CGMP.

It has been screened and approved by the relevant authorities of a number of EU member states, such as Cyprus, Germany and Denmark, as well as the UK, Russia, Australia, Japan, Brazil and many other countries.

Today’s leadership

Dr.Michalis Neoptolemou, a top tier Remedica management official since 2014, took over as Managing Director in 2017 and holds the position of CEO since 2019.

Under Dr.Neoptolemou’s management, Remedica has not only expanded its global activities, but also invested more in  Research and Development (R&D), creating new pharmaceutical products and therefore adding more international pharmaceutical patents in its portfolio.

As noted, Dr.Neoptolemou quickly established that 800 employees h2 Remedica, is one of the toughest players in the local market and its greatest success has been to take on board the right people at the right time and in the right places.

‘As someone said, smart people hire even smarter ones, so they won’t have to tell them what to do’, Dr.Neoptolemou stressed, adding that he is trying to run Remedica with a similar philosophy, by recruiting talented, creative and resourceful personalities, in a position to bring about positive change to the company.

Vision and Mission

Remedica’s vision is a healthier world, through providing high quality, safe and effective pharmaceutical products at affordable prices. It believes in the mission of contributing towards improving the quality of human life, by providing these high quality pharmaceutical products, as well as other medical treatment and care products in a direct manner and at affordable prices.

The values and principles

At Remedica they believe that every company is a living body that affects and is affected by people interacting with them. They note the following:

‘The company operates based on the values outlined below, in the same way as any individual builds their own personality and formulates their own behaviour towards the community:

• Focusing on quality is our main priority towards creating an effecting quality control system (QMS), with the flexibility of continuous improvement, allowing the company to comply with the CGMP standards for all our operational areas.
• Creating a functional management system of portfolio products that are either under development or have circulated, including advanced generic products, is yet another core value of the company, contributing towards strengthening research and development.
• Modernisation, automisation, functionality and digital transformation are the four generators of the company’s cost saving strategy.
• Flexibility, adaptability and offering high quality services that respond to our clients’ needs, make up fundamental company values. Emphasis is placed on access to many markets resulting in Remedica being selected as preferred provider of advanced generic products for leading NGOs and multinationals.
• Α core company principle is that human personnel is the most precious part of operation. It therefore focuses on forging a modern and innovative work place that attracts, develops and keeps creative talents that offer up this innovation.

In 160 countries

Remedica distributes pharmaceutical products to over 160 countries through a well selected network of local representatives and cooperation, to private and government health bodies for the treatment of millions of patients.

Local and international awards

Professional excellence has led to Remedica receiving a multitude of awards and commendations in the framework of development, production and trade of safe and effective medication for human use. They include 8 Exports Awards, a quality award, Best Industry Award, a Ruban d’Honneur award as one of the 10 leading export companies in Europe (European Business Awards), a ‘National Winner’ award as one of the best companies in Europe for 2017/18 and 2018/19 and the Cyprus Exports of Industrial Products award in 2018.

For its charitable activities and contribution to the community, health and safety in the workplace, as well as Corporate Social Responsibility practices, Remedica was honoured with a number of awards, such as ‘Healthy Workplace 2017’, ‘CSR Award 2017’, ‘Active Citizen 2019’, ‘Golden Protector of the Environment 2018, 2019, 2020’ Cyprus HR Awards’ in 2019 and 2020 and many others.

Corporate Social Responsibility

Remedica’s Corporate Social Responsibility stems from its vision and mission, focusing on improving people’s health and quality of life at any age and on a global scale, through providing high quality safe and effective pharmaceutical products at affordable prices.

Remedica’s contribution to Cyprus’ economy is undoubtedly quite significant as its social imprint was established at an early stage in the company’s DNA. Through a range of policies and processes, Remedica aims at securing quality of life through health and promotes lasting and viable growth, without exclusions, as well as full and productive employment.

In addition, the company is the co-founder of the NGO, CSR Cyprus (Cyprus Network for Corporate Social Responsibility).

Some of the Remedica practices and corporate responsibility projects that have been implemented or on-going, are the following:

• Medication donations (both in Cyprus and abroad)
• Organised student visits at our facilities for educational purposes as well as encourage them to follow health related studies
• Educational visits by students at the company’s modern facilities
• Financial and other support of several NGOs and other non-profit foundations, mainly related to health
• Annual blood donation, gradually becoming one of the largest source of donations to Cyprus’ blood bank
• Financial support to social groceries
• Action to support vulnerable social groups
• Organising activities aimed at environmental protection, such as cleaning beaches and planting trees
• Collecting clothes and food for those in need
• Sponsoring sports teams
• Sponsoring individual athletes
• Medical equipment donations (ventilators etc)
• Donations to municipalities (garbage bins and so on)
• Supporting the “Remedica Open Access Author Fund”.

Development in all fields

Remedica is a leading pharmaceutical industry based in Cyprus and boasting give latest technology production factories. Its exporting capability extends to more than 160 countries. The Group’s CEO Dr.Michalis Neoptolemou spoke to us about the company’s history, the here and now and its future.

What’s it like leading a group with such an important history, a pioneer company?

First and foremost it’s a huge responsibility as we are trading in products that have to do with people’s health, so we can’t afford any lapses in quality and effectiveness. In addition, this is a quite isolation position I would say, in regard to the decisions one has to take, wisely and always having in mind the progress and best interest of the organisation. Any decision at this level will have an effect. The Group’s history is an additional weight bearing down, obliging you to further develop the company, both horizontally and vertically. On many occasions, history triggers your professional consciousness into creating even more and taking the organisation a step further, what we call added value or constructive contribution. All this generates a thirst for creativity and development.

What brings a 60 year success story to the present day but also into the future?

Amongst other things, we’re talking about values, vision, strategy, creativity, growth, diversity and quality. All these ingredients have forged this success. The future is no different; further development in all fields, including products, opening up new markets, technologies, synergies and such.

Perception

What is the Group’s DNA and what defined it?

It was defined in 1980 by the founder of this organisation and from then on, everyone added their own bit, as we also did in our time, to reach this level. But when you do have the DNA you can grow in other directions too, like a footballer who turns into a fine basketball player. There are great prospects in our industry and we are perceptive on everything that might be coming, acting accordingly. Immediate reaction either to prospects or market moves, finds the group quite prepared, most times.

Everything changed

Which do you consider the most important moment in this decades long Remedica history?

When it evolved from a family culture to a business culture; everything changed, practices, habits, people, indicators, everything. And this is an on-going course, as we strongly believe in constant improvement. That’s never going to change in the organisations’ continuity as it already changed hands once and this might yet happen again. But it also has its positives. We are not irreplaceable, but the Group’s course must remain steady and clear.

What story or incident, personal experience or narrated by someone else, has stayed with you?

It was when I decided to join this Organisation. From the outset I had seen plenty, but I simply couldn’t react or go ahead with what I had in mind. But time passed, the right time actually came to do what needed to be done; and here we are.

A shining beacon

Why do you consider Remedica a leading pharmaceutical industry? What actually makes a pharmaceutical industry top tier?

Its values and its people; the ones who passionately and tirelessly forge ahead with what they do. The team spirit that’s hard to find in such major organisations, but also its technology, efficiency as well as the future strategy; in our case, it’s a surprise I confess. There might be many such characteristics, but I will focus on the ones that we consider the three pronged approach of our success; competitive pricing, quality and services. It’s the shining beacon of our organisation and in the near future, we’ll be adding more to the equation.

The pandemic

Let’s talk about the here and now. How has covid affected you, if at all?

It’s affected everyone but with the right planning we have reduced its consequences to the minimum. Our problems are mainly in the supply chain, but we have found ways to significantly limit them.

How do you see the next day?

To us, with or without covid, the next day needs to be better than the previous one. It’s the only way we can move forward; that’s how we deal with every next day. We remain true to our vision and strategy for creativity and progress.

What can we expect from Remedica in the coming years?

Many new products and new categories of treatment, as well as more markets, even more synergies at both a horizontal and vertical level and obviously a great deal more development. Results will come in thick and fast over the next few years.

We support society

You are a company turning corporate social responsibility to multi-faceted action. What is your CSR philosophy?

We take from society and we give back to society. That’s how we’ve learned to operate and this is our way forward. The honesty we have with people is evident in our results, as people increasingly prefer our company. We stand by them and they stay true to us. We have adopted a holistic behaviour of support to the community and this reverberates across all social strata. We will continue on this path. It’s costly but money is not the issue here; the goal is people’s prosperity and the protection of their health at all levels. Our slogan ‘for a healthier world’, is a way of life.