Croma-Pharma: "Made in Austria" - with minimally invasive aesthetic medicine becoming a global player
Leobendorf, August 2019 - Croma-Pharma GmbH, or Croma for short, is an international pharmaceutical company based in Leobendorf, Austria. For over 40 years, innovative drugs and medical devices for the fields of ophthalmology, orthopedics and aesthetic dermatology have been developed and produced. Thus, Croma has made important contributions to improving health and quality of life for four decades. The company was founded in 1976 by Mag. Pharm. Gerhard Prinz and in second generation headed by his sons Martin and Andreas Prinz. Since 2005, the internationalization of the company has been driven forward. In 2014, the strategic sale of the Ophthalmology and Orthopedics divisions took place. Since then, the company specializes in minimally invasive aesthetic medicine. Currently, Croma has 12 international offices in Brazil, European Union and Switzerland and nearly 500 employees worldwide.
Leading hyaluronic acid expert in Europe
Today Croma is a global player in the dynamically growing segment of minimally invasive aesthetic medicine and a leading European processor of hyaluronic acid. The company sells nearly six million hyaluronic acid syringes (injectables) annually through a network of in-house sales organizations, 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 the own production site, Croma markets PDO lifting threads, a Platelet Rich Plasma (PRP) system and a personalized skincare technology in its core strategic markets.
New headquarters and production plant as 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 aesthetic dermatology as a dynamic future market
In modern aesthetic medicine, the trend is moving from massive, 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 optimizes 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-Pharma GmbH (Croma) is establishing a joint venture company with its long-time partner Hugel, Inc. to develop and commercialize botulinum toxin, HA filler and PDO thread products in 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 in the aforementioned markets. The strategic partnership with Hugel will continue Croma's international expansion efforts and further strengthen Croma's 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 Dermalfiller Princess VOLUME was approved in China by the CFDA. Croma-Pharma was the first European company to do so, following a nearly five-year licensing marathon with extensive studies. 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 is sponsor of the international organization "Light for the World". With generous product donations Croma makes an important contribution to the eye care in the poorest regions of the world.