The pharmaceutical company Abigo Medical has had an international outlook since the start. The company was founded in 1989 by the brothers Jan G and Leif Smith. 30 years later, it is active in 75 countries and continues to grow both in Sweden and abroad.
This kind of success does not happen by itself, of course. Every company that wants to enter a new market will find some aspects somewhat challenging. For Abigo Medical, it has been difficult to find suitable partners, and this is one of the main reasons that they started a long-term collaboration with Business Sweden.
Abigo Medical develops, manufactures and promotes a wide range of prescription and over-the-counter pharmaceutical products. They also produce a range of medical devices for advanced wound care and ENT (ear, nose and throat). It is the only company in Sweden that makes its own patented wound care products.
The company was set up with an international mindset from the very beginning. It started its global growth by expanding the business to their Scandinavian neighbours. This was relatively easy, as they are geographically and culturally close to Sweden.
As Sweden has only 10 million inhabitants, there is huge potential in international business ventures.To grow sales in more remote markets requires both careful planning and more resources. Abigo Medical has benefited a great deal from their cooperation with Business Sweden. “Our experience of working with Business Sweden is very positive. They help us to find partners and distributors that are a good match for us,” says Jan-Erik Smith.
One of Abigo Medical's driving forces as a company is sustainability: From offering their employees a good working environment and being environmental aware to focusing on long-term improvements within global health. A concrete result from their sustainable approach is the release of products that help to reduce the use of antibiotics. Abigo Medical works actively to create awareness and spread knowledge on matters related to sustainability and health. One way of doing this is to take part in initiatives with organisations like the UN, the Red Cross and WHO.
Healthcare and sustainability are also two of Business Sweden's focus areas, and this is another reason why Jan-Erik Smith is so pleased with the cooperation: “One of Business Sweden's strengths is that they have influence on a diplomatic level. We can trust that the partners they suggest are ethically sound, and this is a fundamental requirement for us.”
Abigo Medical no doubt sets a good example in the business world. It is one of only 728 companies that have been selected for the magazine Veckans Affärer’s annual list of Swedish super-companies – and not only once, but five years in a row (2014–2018). In 2017, Abigo Medical was also named Entrepreneur of the Year in Gothenburg.
The results speak for themselves: Abigo Medical has been able to invest 65 million SEK in the last three years. The company grows 15–20% year on year, and intends to continue the current trend.
ABOUT ABIGO MEDICAL
Abigo Medical AB is a family-owned pharmaceutical company with a strong focus on sustainability (working environment, anti-corruption, environment, human rights). They develop, manufacture and promote a wide range of prescription and over-the-counter pharmaceutical products, and are working actively against antibiotic resistance on a global scale. Today, the company has 150 employees and a turnover of 300 million SEK.
VALUE IMPACT
Abigo Medical has a strong position within global healthcare and continues to support the fight against antibiotic resistance.
