Securing low prices
There are different prices on medicine within the EU and the possibility for free movement of goods. At Paranova we, therefore, buy the original pharmaceuticals from licensed wholesalers in EU countries with lower prices. We then import the products, control their authenticity against the marketing authorization for each product and each country of origin, before we distribute them in Denmark, Sweden, and Finland. This creates competitive pricing and saves both patients and taxpayers money on the same, identical products.
Saving €418 million a year
A study* shows that the total direct savings on medicine for the period 2004 to 2009 in Denmark, Sweden, Germany and the United Kingdom amounted to €2,5 billion, corresponding to an average annual direct saving from parallel imports for the period of €418 million. Adding to this is the indirect savings, where price elasticities is a significant contributor.
No compromising on safety or quality
We never compromise on safety or quality and have strict procedures and full documentation. Furthermore, we follow all the restrictions this kind of trade is subject to, for instance all distributed pharmaceuticals must be approved by the national medicine regulatory authorities or by the European Medicines Agency (EMEA). We need to have a marketing authorization for each product and each country of origin, and we often deal with more countries for the same product to ensure supply. All these procedures must be in order before we can sell the original products. On top of this, these procedures are continuously audited by the local medical authorities and we are always compliant. A list of companies fulfilling the requirements from the local authorities is available here.