"Already, we have managed to cover more than 70% of the therapeutic areas, with around 270 references."

It sells 6.3 million “small boxes” per year, mainly domestically but also abroad. Exports account for around 30% of Bluepharma Genéricos’ revenues, which is now targeting potential new markets at a time when the group it belongs to, founded 25 years ago in Coimbra, is entering a “new cycle of expansion.”

After finishing 2025 “on a high note,” with a 2% increase in revenues to €17.3 million, a 5.4% improvement in EBITDA [earnings before interest, taxes, depreciation, and amortization], and a 16.4% rise in profits to close to €1 million—aligned, in fact, with the group’s “interesting growth”—Bluepharma Genéricos is looking ahead to 2026 with optimism and an outward focus.

“Internationalization is one of the areas we are currently investing in. In 2026, we will strengthen our team precisely to continue exploring other territories where we want to be present with our own brand,” says the CEO of Bluepharma Genéricos, Miguel Silvestre, to Jornal de Negócios.

Exports account for roughly 30% of the company’s turnover, with Angola and Mozambique (where it has offices) standing out by a wide margin as the main markets. Vietnam closes the podium, with the top 10 including countries from Saudi Arabia to Guatemala and Estonia, the latter being the only European representative.

“Internationalization is one of the areas we are investing in. In 2026, we will strengthen the team to continue exploring other territories.” — Miguel Silvestre, CEO of Bluepharma Genéricos

Bluepharma Genéricos’ portfolio has also been expanding, with the launch of 10 products planned for this year. “We have already managed to cover more than 70% of therapeutic areas, with around 270 references. We have greater differentiation in three therapeutic areas—cardiovascular and metabolic diseases, antibiotics, and the central nervous system—but, ultimately, we seek solutions to meet all the needs of pharmacies and people.”

However, the offering is no longer limited to pharmacies: “We used to work entirely with the outpatient market, but just over two years ago we also began working with the hospital market. This was something we discussed a lot within the group, because we were not very keen on working with the State, given the track record that those who did so faced ongoing difficulties in receiving payments from hospitals.”

In that sense, he explains, “it had never been attractive, also because we built this company with a great deal of work, effort, and dedication, and therefore we did not want to take risks,” but “as the group grew, some of these factors were naturally overcome.”

At the same time, the group—of which he is one of the founders—“also began operating extensively in the development of hospital products and in the oncology field. As a result, we at Bluepharma Genéricos started to have many products exclusively dispensed in hospitals, and it made no sense not to be present where they are used,” explains the CEO of Bluepharma Genéricos.

“But we have been taking this path very cautiously, that is, we participate in some public tenders, but we maintain a balance so as not to be too dependent on payments from the State, because the experience in 2025 was not pleasant,” he shares.

Founded in 2001, Bluepharma transformed an industrial unit employing 58 people and operating for the domestic market into an economic group that has created 20 companies and employs around 700 people.

Through its subsidiaries, the group covers the entire pharmaceutical value chain, from R&D to market. It has offices in three countries (Angola, Mozambique, and United States) and, in 2025, exported more than 91% of its production to over 40 countries, the same year it increased its turnover to nearly €100 million.