The over-the-counter (OTC) drugs distribution industry in Europe encompasses companies that market and sell a wide array of health products directly to consumers without prescription. This vibrant sector includes pharmacies, supermarkets, e-commerce platforms, and wholesalers, offering items ranging from pain relievers to skincare solutions. With changing consumer behavior leaning towards self-medication and a growing emphasis on preventive healthcare, the industry is poised for innovation through digital distribution methods. Sustainability and transparency in sourcing are also trending, making the sector more consumer-friendly and responsive to market demands than ever before.


The list features a mix of venture capital, corporate, and private equity investors headquartered across Europe, from Switzerland to the United Kingdom. Founded between 1994 and 2017, these organizations vary in size, with many managing substantial portfolios and notable deal volumes in 2024. Investment counts range from five to 198 in this dynamic landscape, reflecting heightened interest in healthcare sectors, particularly in over-the-counter drugs. This diversity in investor types indicates a robust ecosystem supporting innovative solutions in OTC distribution.


Top 15 Over-the-Counter Drugs Distribution Investors in Europe


1. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and invests in life science companies at various stages of development, providing capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has made significant investments in pharmaceutical manufacturing and distribution, including the acquisition of Catalent Pharma Solutions for $16.5 billion, which raises questions about the future of its existing contracts and customers. Additionally, they acquired The Ritedose Corporation, a sterile pharmaceutical manufacturer, to enhance its capabilities in bringing life-saving drugs to market. These transactions highlight Novo Holdings' commitment to advancing healthcare solutions, including the potential distribution of over-the-counter drugs.


2. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a variety of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the pharmaceutical sector, such as the acquisition negotiations involving Healthy Group, which operates in the pharmacy space and has significant sales. Additionally, they participated in the seed funding round for Livmed's, a company that could be linked to the healthcare and pharmaceutical distribution landscape. These transactions highlight Bpifrance's engagement in the pharmaceutical industry, making them a relevant player in the over-the-counter drugs distribution context.


3. HBM Healthcare Investments AG


HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, founded in 2001. The firm specializes in the healthcare sector, actively investing in human medicine, biotechnology, medical technology, and diagnostics. With a diversified portfolio, HBM seeks growth opportunities in the rapidly evolving healthcare market. Notably, HBM has participated in significant funding rounds, including a $15 million investment in 1000Farmacie, an Italian startup that aims to expand its business and enhance last-mile delivery services, which could encompass over-the-counter drug distribution. Additionally, HBM has invested in Swixx Biopharma, a company that has raised substantial funding to support its growth, indicating their commitment to healthcare investments that may intersect with the distribution of pharmaceutical products.


4. 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 the over-the-counter drugs distribution sector, such as the acquisition of Hexal in 2005, which expanded their generic drug offerings. In 2012, they acquired Fougera Pharmaceuticals, a company known for its generic dermatological products, further solidifying their presence in the market. Additionally, Novartis formed a consumer healthcare joint venture with GSK, where they hold a 36.5% stake, indicating their active role in the distribution of over-the-counter healthcare products. These strategic moves highlight Novartis's commitment to diversifying its portfolio and engaging in the over-the-counter drugs market.


5. Sanofi

  • Website: sanofi.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1973
  • Headcount: 10001+
  • Number of deals in 2024: 17
  • LinkedIn: sanofi

Sanofi is a global pharmaceutical company based in Paris, Île-De-France, France, founded in 1973. The company specializes in the research, development, manufacturing, and marketing of medications and vaccines, serving healthcare providers, patients, and consumers. Sanofi's extensive product offerings span various therapeutic areas, including oncology and diabetes, but they also have a significant presence in the consumer health sector. Notably, Sanofi has made strategic acquisitions to bolster its over-the-counter drug portfolio, including the acquisition of the Symbion consumer business for $560 million, which focuses on vitamins, mineral supplements, and OTC brands in Australia and New Zealand. Additionally, their acquisition of Chattem Inc. for $1.9 billion allowed Sanofi to expand its OTC product offerings in the United States, enhancing their consumer health care division. These transactions highlight Sanofi's commitment to improving health outcomes through innovative healthcare solutions, particularly in the OTC drugs market.


6. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services aimed at supporting sustainable projects across various sectors. In 2024, EIB has been involved in 99 investments, demonstrating its active role in financing initiatives that promote growth and job creation. Notably, EIB has participated in significant transactions within the pharmaceutical sector, such as providing debt financing to Emzor Pharmaceutical Industries, which raised approximately $14 million in July 2022, and Antibiotice, which raised about $26.7 million in post-IPO debt in November 2023. Additionally, EIB has supported MedinCell with substantial debt financing in both 2018 and 2022, further highlighting its engagement in the pharmaceutical industry. These transactions reflect EIB's commitment to supporting companies that may be involved in the distribution of over-the-counter drugs, aligning with its broader mission of fostering sustainable economic growth.


7. Gsk

  • Website: gsk.com
  • Type: Corporate
  • Headquarters: Brentford, England, United Kingdom (UK)
  • Founded year: 2000
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: glaxosmithkline

GSK, or GlaxoSmithKline, is a leading pharmaceutical company based in Brentford, England, founded in 2000. With over 10,000 employees, GSK is dedicated to developing and manufacturing vaccines, specialty medicines, and general medicines, including over-the-counter (OTC) products. The company has made several significant acquisitions to enhance its capabilities and market presence. Notably, GSK acquired Laboratorios Phoenix in 2010, which is part of its growth strategy in Latin America and likely includes OTC offerings. In 2009, GSK acquired Stiefel Laboratories, a skincare specialist, for $3.6 billion, further diversifying its portfolio to include OTC skincare products. These strategic moves demonstrate GSK's commitment to addressing health challenges and improving health outcomes globally, including through the distribution of OTC drugs.


8. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Notably, Almi has been involved in several transactions within the pharmaceutical sector, including a SEK 2.9 million investment in TIRmed Pharma, a startup focused on pharmaceutical innovations, and a seed round investment in Prolevi Bio. These transactions highlight Almi's engagement in the healthcare industry, particularly in companies that may contribute to the over-the-counter drugs distribution market.


9. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has made significant investments in the healthcare sector, including notable transactions such as the acquisition of DOC Generici, a Milan-based generic pharmaceutical company, which highlights their commitment to the pharmaceutical industry. Additionally, their acquisition of Cooper and Genetic SpA further demonstrates their strategic focus on companies that may be involved in the distribution of over-the-counter drugs. These transactions reflect CVC's aim to deliver sustainable value and growth through strategic investments in the healthcare and pharmaceutical sectors.


10. SoftBank Investment Advisers


SoftBank Investment Advisers, also known as the SoftBank Vision Fund, is a venture capital fund founded in 2017 and based in London, England. The fund specializes in investing in technology-focused companies, particularly those innovating in artificial intelligence. With a diverse portfolio that spans various sectors, including health tech and fintech, SoftBank aims to support growth-stage technology firms in scaling their operations. Notably, they have made significant investments in the pharmaceutical sector, including a $200 million investment in Alto Pharmacy during its Series E funding round, which has helped the company expand its drug delivery services and achieve substantial revenue growth. Additionally, they participated in Alto's earlier Series D funding round, further demonstrating their commitment to the pharmacy and drug distribution industry. Other investments, such as in Aculys Pharma, also reflect their interest in health-related innovations, reinforcing their relevance in the over-the-counter drugs distribution context.


11. 3i Group plc

  • Website: 3i.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1945
  • Headcount: 201-500
  • Number of deals in 2024: 3
  • LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity firm founded in 1945, specializing in private equity and infrastructure investments. The firm focuses on providing capital and expertise to mid-market companies, helping them grow sustainably. With a strong international presence and a diverse portfolio, 3i Group aims to create value for its stakeholders through strategic investments. Notably, 3i Group has made significant investments in the pharmaceutical sector, including the acquisition of betapharm Arzneimittel GmbH in 2003, which is involved in the distribution of generic drugs. Additionally, in 2008, 3i Group agreed to acquire Alpharma's Active Pharmaceutical Ingredients business for approximately $395 million, a company specializing in injectable generics. These transactions highlight 3i Group's active role in the pharmaceutical industry, which encompasses over-the-counter drugs distribution.


12. 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. Notable transactions include their investment in 1000Farmacie, which raised $10 million in Series A funding in June 2023, and Farmalisto, which raised $4.3 million in a convertible note on the same day. These investments suggest a commitment to healthcare-related ventures, although they do not specifically highlight over-the-counter drugs distribution.


13. 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 is a leading chemical distributor based in Essen, North Rhine-Westphalia, Germany, founded in 1874. The company specializes in connecting chemical manufacturers with users, providing a diverse range of specialty and industrial chemicals, along with value-added services. Brenntag serves approximately 195,000 customers across various industries, including food, pharmaceuticals, and oil & gas, simplifying access to complex supply chains. In 2024, Brenntag has made significant strides in the pharmaceutical sector by acquiring two Brazilian specialty distributors, PIC Química e Farmacêutica and PharmaSpecial, to enhance its position in the Life Science market in Brazil. These acquisitions, announced on August 19, 2024, are expected to bolster their capabilities in the distribution of pharmaceutical products, including over-the-counter drugs. Additionally, their previous acquisition of Fred Holmberg & Co in 2014 further demonstrates their commitment to expanding their reach in the chemical and pharmaceutical distribution sectors.


14. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, UK, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses across the UK and Ireland. BGF addresses the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in Pharmacy2U, an online pharmacy that has significantly expanded its operations with BGF's support, raising funds to enhance its home delivery service for NHS patients. This investment highlights BGF's engagement in the pharmaceutical sector, particularly in the distribution of prescription and potentially over-the-counter medications. Additionally, BGF has invested in Abbey Pharma and Intrapharm Laboratories, further demonstrating their involvement in the pharmaceutical industry.


15. Inveready

  • Website: inveready.com
  • Type: Venture Capital
  • Headquarters: Usansolo, Basque Country, Spain
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: inveready

Inveready is an investment management firm based in Usansolo, Basque Country, Spain, specializing in alternative asset management since its founding in 2008. The firm provides a range of financing solutions, including venture capital, private equity, and venture debt, aimed at supporting businesses across various sectors, particularly in technology and life sciences. Notably, Inveready has been involved in several transactions within the pharmaceutical industry, such as their investments in Ojer Pharma, which raised funds in both 2023 and 2014, and InnoUp Farma, which secured funding in multiple rounds from 2015 to 2021. These investments highlight Inveready's commitment to empowering entrepreneurs in the life sciences sector, which includes the distribution of over-the-counter drugs.



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


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
NovartisBasel, Basel, Switzerland10001+19967
SanofiParis, Île-De-France, France10001+197317
European Investment Bank (EIB)Luxembourg1001-5000195899
GskBrentford, England, United Kingdom (UK)10001+20005
AlmiStockholm, Stockholm, Sweden201-50019947
CvcLuxembourg1001-5000200516
SoftBank Investment AdvisersLondon, England, United Kingdom (UK)201-500201714
3i Group plcLondon, England, United Kingdom (UK)201-50019453
HBM Partners AGZug, Zug, Switzerland11-5020010
BrenntagEssen, North Rhine-Westphalia, Germany10001+18748
BgfLondon, England, United Kingdom (UK)51-200201153
InvereadyUsansolo, Basque Country, Spain11-50200815


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