The over-the-counter (OTC) drugs distribution industry in DACH includes companies that supply non-prescription medications directly to consumers and healthcare providers. This market features retail chains, pharmacy wholesalers, and online platforms offering a wide range of products, from pain relievers to allergy medications. As more consumers shift to e-commerce for medication needs, digital channels are rapidly gaining traction. Moreover, the industry is witnessing a growing focus on health and wellness products, reflecting an increased consumer interest in preventive care. With an emphasis on convenience and availability, the future looks bright for OTC distribution in the DACH region.


The listed investors in the DACH OTC drugs distribution sector represent a mix of corporate, venture capital, and private equity types. Predominantly headquartered in Switzerland and Germany, some, like Novartis and HBM Partners, have made their mark since the early 2000s. Recruitment size widely varies, with organizations like Brenntag boasting over 10,000 employees, while smaller firms such as Bayern Kapital are more modest in size. In 2024, these investors collectively executed a range of deals, demonstrating their commitment to expanding within this vital market.


Top 14 Over-the-Counter Drugs Distribution Investors in DACH


1. HBM Healthcare Investments AG


HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, specializing in the healthcare sector. Founded in 2001, the firm manages a diversified portfolio of healthcare companies, focusing on human medicine, biotechnology, medical technology, and diagnostics. In 2022, HBM participated in a $15 million funding round for 1000Farmacie, an Italian startup that aims to enhance last-mile delivery services and integrate additional healthcare services, which could include over-the-counter drug distribution. Additionally, HBM has been involved in multiple funding rounds for Swixx Biopharma, a company that operates in the pharmaceutical distribution space, further indicating their engagement in sectors related to drug distribution. This diverse investment strategy positions HBM as a key player in the evolving healthcare market, appealing to investors seeking growth opportunities in various healthcare segments.


2. Novartis

  • Website: novartis.com
  • Type: Corporate
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: novartis

Novartis AG is a leading pharmaceutical company based in Basel, Switzerland, founded in 1996. The company specializes in developing and manufacturing innovative medicines across various therapeutic areas, with a strong emphasis on research and development to enhance patient outcomes. Notably, Novartis has made significant acquisitions that align with its interest in the pharmaceutical market, including the acquisition of Hexal in 2005 for $8.3 billion and Fougera Pharmaceuticals in 2012 for $1.525 billion. In 2015, Novartis completed a series of transactions with GlaxoSmithKline, acquiring GSK's oncology products and forming a consumer healthcare joint venture, where Novartis holds a 36.5% stake. This joint venture indicates Novartis's commitment to the consumer healthcare market, which includes over-the-counter drugs. Additionally, the acquisition of Xiidra from Takeda Pharmaceutical for up to $5.3 billion further demonstrates Novartis's strategic focus on expanding its portfolio in the healthcare sector.


3. Brenntag

  • Website: brenntag.com
  • Type: Corporate
  • Headquarters: Essen, North Rhine-Westphalia, Germany
  • Founded year: 1874
  • Headcount: 10001+
  • Number of deals in 2024: 8
  • LinkedIn: brenntag

Brenntag SE, founded in 1874 and headquartered in Essen, North Rhine-Westphalia, Germany, is a leading chemical distributor that connects chemical manufacturers with users across various industries. With a workforce of over 10,000 employees, Brenntag serves approximately 195,000 customers, providing a wide range of specialty and industrial chemicals along with value-added services. In 2024, Brenntag has made significant strides in the Life Science market, particularly in the pharmaceutical sector, by acquiring two Brazilian specialty distributors, PIC Química e Farmacêutica and PharmaSpecial, which generated sales of approximately €11 million in 2023. These acquisitions, announced on August 19, 2024, are aimed at strengthening Brenntag's position in the distribution of pharmaceutical products, including over-the-counter drugs. Additionally, Brenntag has a history of strategic acquisitions, such as Fred Holmberg & Co in 2014 and Y.S. Ashkenazi Agencies in 2022, which further demonstrate their commitment to expanding their reach in the chemical and pharmaceutical distribution markets.


4. HBM Partners AG


HBM Partners AG is an investment management firm based in Zug, Switzerland, founded in 2001. The firm specializes in healthcare investments, focusing on venture, growth, and buy-out financing for private companies, as well as public company investments in the biopharma, medtech, diagnostics, and healthcare sectors. HBM Partners serves institutional and professional clients, providing capital and strategic support to enhance value creation. Notably, they have been involved in several relevant transactions, including a $10 million Series A investment in 1000Farmacie, a company that operates in the pharmacy space, and a $4.3 million convertible note for Farmalisto, which also operates in the healthcare sector. These transactions highlight their active role in the healthcare market, which includes potential interests in over-the-counter drug distribution.


5. Bayern Kapital

  • Website: bayernkapital.de
  • Type: Venture Capital
  • Headquarters: Landshut, Bavaria, Germany
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: bayern-kapital-gmbh

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria, particularly in sectors such as life sciences and software. Bayern Kapital supports its clients with financial resources and access to a network of industry experts, helping them navigate the challenges of growth and development. Notably, they have participated in significant funding rounds for companies like Immunic AG, which focuses on drug development, and Vasopharm, a biotech company involved in treatments for traumatic brain injuries. These transactions highlight Bayern Kapital's engagement in the life sciences sector, which is closely related to pharmaceuticals and potentially over-the-counter drugs distribution.


6. STADA Group

  • Website: stada.com
  • Type: Corporate
  • Headquarters: Bad Vilbel, Hesse, Germany
  • Founded year: 1895
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: stada

STADA Arzneimittel AG, founded in 1895 and based in Bad Vilbel, Hesse, Germany, is a prominent pharmaceutical company that specializes in consumer healthcare products, specialty pharmaceuticals, and generics. The company serves healthcare providers, pharmacies, and consumers by offering a wide range of effective and affordable health solutions. STADA operates globally, ensuring access to essential medications and health products. Notably, STADA has made significant acquisitions in the over-the-counter drugs sector, including the acquisition of Thornton & Ross in 2013, a British OTC manufacturer, for approximately 259.22 million Euros. This acquisition is expected to positively impact STADA's net income, indicating a strategic focus on enhancing their OTC product offerings. Additionally, their acquisition of Natures Aid in 2016 for GBP 18.5 million further solidifies their presence in the OTC market, showcasing their commitment to expanding their portfolio in consumer healthcare. Overall, STADA Group is actively engaged in the over-the-counter drugs distribution industry while also maintaining a diverse range of pharmaceutical interests.


7. PHOENIX group - Integrated Healthcare Provider


PHOENIX group - Integrated Healthcare Provider, founded in 1994 and based in Mannheim, Germany, is a leading company in the pharmaceutical industry, specializing in pharmaceutical wholesale and pharmacy retail. With over 3,300 pharmacies under its operation, PHOENIX supplies medicines to independent pharmacies and medical institutions across Europe, ensuring reliable healthcare logistics and services. The company has made significant acquisitions to enhance its market position, including the acquisition of the wholesale pharmacy distribution business of McKesson Group in France, which was authorized by the French Competition Authority in September 2022. This transaction is noted as one of the largest in recent years within the wholesale distribution of healthcare products. Additionally, PHOENIX acquired Romanian pharmaceutical wholesaler Farmexim S.A. and the Help Net Farma S.A. pharmacy chain in 2018, further solidifying its presence in the European market. These strategic moves demonstrate PHOENIX's commitment to expanding its distribution network, particularly in the over-the-counter drugs segment.


8. Nestlé Health Science


Nestlé Health Science is a corporate investor based in Lausanne, Vaud, Switzerland, specializing in health and nutrition. Founded in 2011, the company has a workforce of over 10,000 employees and focuses on medical nutrition, active lifestyle nutrition, and pharmaceuticals. Nestlé Health Science aims to improve health outcomes through science-based solutions and serves various customer segments, including healthcare professionals and individuals seeking nutritional support. Notable transactions include the acquisition of NBTY in 2021, a company recognized for its dietary supplements and over-the-counter products, which enhances Nestlé's presence in the OTC market. Additionally, their acquisition of Aimmune Therapeutics for $2.6 billion and previous investments in the same company highlight their commitment to innovative health solutions, further solidifying their role in the over-the-counter drugs distribution landscape.


9. Dhl

  • Website: dhl.com
  • Type: Corporate
  • Headquarters: Bonn, North Rhine-Westphalia, Germany
  • Founded year: 1969
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: dhl

DHL, founded in 1969 and headquartered in Bonn, North Rhine-Westphalia, Germany, is a leading logistics company specializing in comprehensive transportation and delivery services worldwide. With a workforce of over 10,000 employees, DHL offers a range of solutions including courier services, air and ocean freight, and supply chain management across various industries. Notably, DHL Supply Chain has made significant strides in the pharmaceutical logistics sector through strategic acquisitions. In 2011, they acquired Eurodifarm, enhancing their presence in pharmaceutical logistics in Italy. In 2017, they announced the acquisition of Polar Transportes, a Brazilian road carrier specializing in temperature-controlled transportation for the Life Sciences and Healthcare industry. These acquisitions reflect DHL's focus on strengthening its logistics capabilities to support the distribution of pharmaceutical products, including over-the-counter drugs. Additionally, their acquisition of MIT Safetrans in 2016 further expanded their operational footprint in Italy, adding more resources to their logistics network. Overall, DHL's investments in pharmaceutical logistics position them as a key player in the distribution of over-the-counter drugs.


10. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Notably, Partners Group has made significant strides in the pharmaceutical sector, acquiring Pharmathen for $1.89 billion, which enhances their capabilities in drug delivery technologies, particularly in the US market. Additionally, their acquisition of PCI Pharma Services, a global provider of pharmaceutical services, underscores their active role in the pharmaceutical industry. These strategic investments highlight Partners Group's focus on expanding their portfolio in sectors that intersect with healthcare and pharmaceuticals, including over-the-counter drugs distribution.


11. Merck Group

  • Website: merckgroup.com
  • Type: Venture Capital
  • Headquarters: Darmstadt, Hesse, Germany
  • Founded year: 1984
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: merck-group

Merck Group is a multinational science and technology company based in Darmstadt, Hesse, Germany, specializing in pharmaceuticals, biotechnology, and chemicals. Founded in 1984, the company has a strong focus on research and development to advance healthcare and technology. Notably, Merck Group has been involved in several significant transactions relevant to the pharmaceutical sector. For instance, they acquired Prasfarma, a business unit that contributes to the distribution of pharmaceuticals, for €20 million in 2005. Additionally, they acquired Seven Seas in 2012, a company known for its health supplements, which often include over-the-counter products. These acquisitions demonstrate Merck Group's active role in the pharmaceutical market, including over-the-counter drugs, making them a relevant investor in this category.


12. Nestlé

  • Website: nestle.com
  • Type: Corporate
  • Headquarters: Vevey, Vaud, Switzerland
  • Founded year: 1866
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: nestle-s-a-

Nestlé S.A. is a multinational food and beverage company based in Vevey, Vaud, Switzerland, founded in 1866. With over 10,000 employees, Nestlé offers a diverse range of products, including coffee, dairy, and pet care items, while also focusing on health and nutrition. In recent years, Nestlé has made significant investments in the health sector, including the acquisition of The Bountiful Company for $5.75 billion, which integrates vitamins and supplements into Nestlé Health Science, enhancing its position in the OTC drugs market. Additionally, Nestlé's acquisition of Galderma in 2014, a company specializing in dermatological products, further emphasizes its involvement in health-related sectors. These strategic moves indicate Nestlé's commitment to expanding its portfolio in health and nutrition, aligning with the over-the-counter drugs distribution industry.


13. Earlybird Venture Capital


Earlybird Venture Capital is a venture capital firm based in Germany, founded in 1997. The firm specializes in investing in European technology innovators, providing financial resources and strategic support to early-stage companies, particularly in the digital health and deep tech sectors. In recent years, Earlybird has participated in significant transactions, including a Series A investment in MAYD Group, a Berlin-based online delivery startup for pharmacy products, which raised €30M to expand its operations in Germany and Europe. This investment highlights Earlybird's engagement in the healthcare space, particularly in the distribution of pharmacy products. Additionally, they have been involved in other healthcare-related investments, such as Oculis, which focuses on delivering transformative therapies to patients. These transactions reflect Earlybird's commitment to nurturing innovative companies that can impact the healthcare landscape.


14. Galenica

  • Website: galenica.com
  • Type: Corporate
  • Headquarters: Bern, Bern, Switzerland
  • Founded year: 1927
  • Headcount: 5001-10000
  • LinkedIn: galenica-sa

Galenica AG is a healthcare and logistics company based in Bern, Switzerland, founded in 1927. The company operates a vast network of pharmacies and provides healthcare logistics services, ensuring the distribution of pharmaceuticals and medical products. Galenica serves various customers, including pharmacies, healthcare providers, and patients, focusing on meeting their health and wellness needs. Notable transactions include the acquisition of MediService AG in 2007, which bolstered their logistics capabilities, and the acquisition of the Sun Store pharmacy chain in 2015, which expanded their retail pharmacy presence to 250 locations across Switzerland. Additionally, Galenica acquired Aspreva Pharmaceuticals Corp in 2007 for approximately $915 million, further enhancing their pharmaceutical portfolio. The acquisition of Grupo Uriach's primary care business in 2011 and Aquantic AG in 2022 also reflect their commitment to expanding their reach in the pharmaceutical distribution sector, particularly in over-the-counter drugs.



Over-the-Counter Drugs Distribution Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
NovartisBasel, Basel, Switzerland10001+19967
BrenntagEssen, North Rhine-Westphalia, Germany10001+18748
HBM Partners AGZug, Zug, Switzerland11-5020010
Bayern KapitalLandshut, Bavaria, Germany11-50199527
STADA GroupBad Vilbel, Hesse, Germany10001+18952
PHOENIX group - Integrated Healthcare ProviderMannheim, Baden-Württemberg, Germany10001+19940
Nestlé Health ScienceLausanne, Vaud, Switzerland10001+20112
DhlBonn, North Rhine-Westphalia, Germany10001+19691
Partners GroupBaar, Zug, Switzerland1001-5000199619
Merck GroupDarmstadt, Hesse, Germany10001+19842
NestléVevey, Vaud, Switzerland10001+18662
Earlybird Venture CapitalGermany51-200199729
GalenicaBern, Bern, Switzerland5001-1000019270


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