COMMERCIAL FEATURE

Becoming a global player with minimally–invasive aesthetic medicine

Leobendorf, August 2019 – Croma-Pharma GmbH is an international pharmaceutical company based in Leobendorf, Austria. For over 40 years, Croma has been developing and producing innovative drugs and medical devices for the fields of ophthalmology, orthopedics and aesthetic dermatology. Croma is very proud to have made such an important contribution to improving health and quality of life for more than four decades. Founded in 1976 by pharmacist Gerhard Prinz, Croma is now managed by his sons Martin and Andreas Prinz. Since 2005, the company has been driven forward through rapid internationalisation. In 2014, the strategic sale of the ophthalmology and orthopedics divisions took place; since then the company has specialised in minimally-invasive aesthetic medicine. Currently, Croma has 12 international offices in Brazil, the European Union and Switzerland, and nearly 500 employees worldwide.

Hyaluronic acid expert in Europe

Today, Croma is a global player in the dynamically growing segment of minimally-invasive aesthetic medicine and is a leading European processor of hyaluronic acid. The company sells nearly six million hyaluronic acid syringes (injectables) annually through affiliates and a network of strategic partnerships and distributors in more than 70 countries. Production takes place exclusively at the company headquarters in Leobendorf near Vienna, Austria. Besides a broad range of HA fillers from its own production site, Croma markets PDO lifting threads, a platelet rich plasma (PRP) system and a personalised skincare technology in its core strategic markets.

A clear commitment to expansion and location

Due to the dynamic development of the company, the construction and expansion of the headquarters and another fully automatic production facility at the Leobendorf site was initiated in 2015. The new headquarters was inaugurated in September 2017.

Innovations as a result of intensive research and development

Croma is investing heavily in in-house research and development of new products to drive the company’s long-term growth through innovation. In this context, Croma also promotes medical and pharmaceutical research in Austria. Today, more than 90% of sales are generated from products of our own research.

Minimally-invasive aesthetics as a dynamic future market

In modern aesthetic medicine, the trend is moving from large, irreversible surgical lifts to smaller but more frequent, shorter and, above all, gentler treatments. Pain-free lunchtime procedures (treatments that are so straightforward that they can be performed during a lunch break) are designed to give the patient a relaxed appearance. The expert combination of different technologies optimises results and creates a long-term patient-doctor relationship. Minimally-invasive aesthetic medicine has above-average growth potential in the global beauty market. In this area, Croma offers a steadily-growing, well-coordinated portfolio of products. The goal is a “full-face approach” to offer doctors and patients the best solutions for all indications from a single source in familiar and reliable quality.

Croma sets the course for entering the US market

In September 2018 Croma established a joint venture company with its long-time partner Hugel, Inc. to develop and commercialise botulinum toxin, HA filler and PDO thread products in the US, Canada, Australia and New Zealand. Thus Croma unites its development and marketing activities with a strong partner in order to prepare and implement the successful market entry. The strategic partnership with Hugel will continue Croma‘s international expansion efforts and further strengthen its market position.

Milestones: product approval and joint venture in China

Asia in general and China in particular are outperforming markets in aesthetic medicine. In May 2017, the dermal filler Princess VOLUME was approved in China by the CFDA. Croma-Pharma was the first European company to do so. Almost at the same time, the company signed with Sihuan Pharma Ltd. a long-standing license and distribution agreement. This joint venture with the third-largest Chinese pharmaceutical company is aimed at the approval of further products and the nationwide distribution of these products in mainland China.

Sustainability and social responsibility

As a family business, Croma pursues a corporate policy based on ecological, economic and social sustainability. For many years, Croma has sponsored the international organisation Light for the World. With generous product donations Croma makes an important contribution to the eye care in the world’s poorest regions. 

For more information contact Stefanie Höhn on +43 676 846868 190 or stefanie.hoehn@croma.at or visit croma.at/home-en/