Securing low prices
At Paranova, we 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. That creates competitive pricing and saves both patients and taxpayers money on the same, identical products.
Saving million euros a year
In the EU, there are different prices on medicine and the possibility of free movement of goods. “Parallel imports bring more affordable medicines to European patients with the same high standards and quality and safety. Parallel imports are the only competition to pharmaceuticals that are still under patent protection, and they help to contain the growing health budgets in Europe”*. Over the last 10 years, a number of studies have investigated the area of parallel import of pharmaceuticals and its effect on the direct and indirect saving on medicine in the European countries**. Alone in Denmark, the savings in 2018 amounted to €82 million.***
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.
* Savings from Parallel Imports in Europe (2020). Affordable Medicines Europe.
** All study papers are linked at the right side of this page.
*** The Economic Impact of Parallel Imports of Pharmaceuticals (2019). The Danish Association of Parallel Importers of Pharmaceuticals. Copenhagen Economics.