What Adelco does

Adelco is a privately held, family-owned Greek pharmaceutical and cosmetics manufacturer founded in 1934 in Moschato, Athens, currently led by the third generation of the Kolokotronis family under Chairman and Managing Director Athanasios Athanasiadis. The company develops, licenses, manufactures, markets, and distributes a diversified portfolio spanning prescription (Rx) pharmaceuticals (including branded generics such as Stedon, Filicine, Minitran, Paroticin, and Salopyrine), OTC medications (Algine, Neomycodermol, Bronchotussine, Istamex), food supplements, medical-technological products (imported from Italy via Pharma Line and S&R), dermo-cosmetics, and personal care lines including OM-OR, Adelco Kids, Adelco Intense SPA, Adelco Velvet, and Adelco Men's Concept Spartan Secret.

Its core technology is an EU-GMP and cGMP compliant, vertically integrated production facility spanning 10,000 sq.m., producing solid, semi-solid, and liquid dosage forms (tablets, capsules, syrups, creams) as well as sterile injectables in an aseptic area described as pioneering in Greece. An in-house regulatory affairs department manages licensing through the Greek National Organization for Medicines (EOF) and the European Medicines Verification Organization (EMVO), supporting both domestic and export compliance.

Commercially, Adelco operates a sales-led model in Greece through a network of direct sales representatives targeting doctors, pharmacists, patients, and consumers, while pursuing international growth in Eastern Europe, North Africa, the Middle East, and the Far East via a regional office in Jordan (established 2017) and multiple partnership modalities including supply and distribution agreements, out-licensing, co-development, contract manufacturing, in-licensing, and co-marketing. Pricing is regulated and not publicly disclosed. The company employs approximately 95 people and markets more than 70 pharmaceutical formulations.

Name

Adelco

Legal name

ADELCO Α.Ε. - Βιομηχανία Φαρμάκων και Καλλυντικών (ADELCO S.A. - Pharmaceuticals and Cosmetics Industry)

Website

https://adelco.gr

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

11–50 employees

Short description

Adelco is a Greek, family-owned pharmaceutical and cosmetics manufacturer founded in 1934 that develops, produces, and distributes branded generics, OTCs, supplements, and personal care products from an EU-GMP certified facility in Athens, serving healthcare professionals and consumers domestically and across emerging markets.

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

OTC Pain Relief & Fever (Analgesics, Anti-inflammatory, Topical Pain Relief) (CRADAMAC)

akta.pro secondary industries

Cold, Flu, Cough & Allergy Remedies (Decongestants, Antihistamines, Cough Syrups, Lozenges) (CRADAMAD), Dermatology OTC & Skin Health (Acne Treatments, Eczema/Psoriasis OTC, Antifungals, Wart Removal) (CRADAMAF)

Keywords

• Pharmaceutical manufacturing
• Cosmetic production
• Food supplements
• Medical devices
• Dermatological products

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Prescription Pharmaceuticals (Rx): Development, licensing, manufacturing, marketing and distribution of branded generic and unique pharmaceuticals and drug combinations. Products address conditions including megaloblastic anemia, psychiatric disorders, anxiety, insomnia, depression, hypertension, and otitis.
2. OTC Pharmaceuticals: Over-the-counter medications including Algine, Neomycodermol, Bronchotussine and Istamex tablets for conditions such as migraine attacks, toothache, trauma pain, fever, mycoses, bronchopneumonia, and allergy symptom relief.
3. Cosmetics and Personal Care: Hair and body care products for babies, children, women and men. Product lines include Adelco Kids, Adelco Intense SPA, Adelco Velvet hand & body, Adelco Men's Concept Spartan secret facial care line, and the historical OM-OR shampoo brand.
4. Food Supplements and Medical-Technological Products: Distribution of nutritional supplements and medical-technological products including Pharma Line and S&R brands imported from Italy.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Adelco develops, licenses, manufactures, markets, and distributes a diversified portfolio of prescription (Rx) and over-the-counter (OTC) pharmaceuticals, food supplements, medical-technological products, and dermo-cosmetics/consumer cosmetics. Production takes place at a 10,000 sq.m. EU-GMP certified vertical manufacturing facility in Moschato, Athens, producing solid, semi-solid, and liquid dosage forms including tablets, capsules, syrups, creams, and sterile injectables.

Product overview

Adelco is a Greek private pharmaceutical and cosmetics company established in 1934, operating a 10,000 sq.m. EU-GMP certified vertical manufacturing facility in Moschato, Athens. The company develops, licenses, manufactures, markets, and distributes a diversified portfolio comprising prescription pharmaceuticals (Rx) including branded generics like Stedon, Filicine, Minitran, Paroticin, and Salopyrine; OTC medications such as Algine, Neomycodermol, Bronchotussine, and Istamex; food supplements and medical-technological products (imported from Italy via Pharma Line & S&R); dermo-cosmetics; and consumer cosmetic brands including OM-OR (the first Greek-made shampoo from the 1960s), Adelco Kids, Adelco Intense SPA, Adelco Velvet Hand & Body, and Adelco Men's Concept Spartan Secret. Many products hold leading positions in their respective market categories. The company also produces Stevia sweetener products and operates internationally across Eastern Europe, North Africa, the Middle East, and Far East markets.

Differentiator

Problem solved

Functional benefit

Brands

• OM-OR: Hair and body care product line including shampoo; the first shampoo manufactured and marketed in Greece
• Adelco Kids
• Adelco Intense SPA
• Adelco Velvet Hand & Body
• Adelco Men's Concept Spartan Secret
• Stedon
• Filicine
• Minitran
• Paroticin
• Salopyrine
• Algine
• Neomycodermol
• Bronchotussine
• Istamex
• Pharma Line
• S&R

Products and services

• Prescription Pharmaceuticals (Rx) Branded generic and unique pharmaceutical formulations covering therapeutic areas including megaloblastic anemia, psychiatric disorders, anxiety, insomnia, depression, hypertension, and otitis. Key brands include Stedon, Filicine, Minitran, Paroticin, and Salopyrine. Sold to healthcare professionals and pharmacies.
• OTC Pharmaceuticals Non-prescription medications including Algine, Neomycodermol, Bronchotussine, and Istamex tablets for treatment of migraine attacks, toothache, traumatic pain, febrile conditions, fungal infections, bronchopneumonia, and allergic symptom relief.
• Food Supplements Nutritional supplements distributed as part of the consumer products portfolio, imported from Italy through Pharma Line and S&R partnerships.
• Medical-Technological Products Medical device products imported from Italy through Pharma Line and S&R partnerships, complementing the pharmaceutical and consumer goods portfolio.
• Dermo-Cosmetics Skincare and dermatological cosmetic products designed for therapeutic skin care applications.
• OM-OR Cosmetics Line Historic shampoo brand now part of a broader cosmetics line for hair and body care, originally the first shampoo manufactured and distributed in Greece.
• Adelco Intense SPA Hair and body care product line with spa-inspired formulations targeting consumer wellness and premium skincare needs.
• Adelco Velvet Hand & Body Body care product line focused on hand and body moisturization and softening formulations.
• Adelco Kids Cosmetics Line Children's care product line providing cosmetics and personal care products designed specifically for pediatric needs.
• Adelco Men's Concept Spartan Secret Men's grooming and skincare product line including facial care products for men.
• Stevia Sweetener Products Stevia-based sweetener products manufactured in tablet, liquid, packet, and powder formats for consumer nutrition markets.
• Contract Manufacturing and Licensing Services Collaboration models including supply and distribution agreements, out-licensing, co-development, contract manufacturing, in-licensing, and co-marketing arrangements offered to international pharmaceutical and cosmetics companies seeking EU-GMP certified manufacturing capability.

Quantifiable outcome

• 70+ pharmaceutical formulations in the market
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• EFPIA (European Federation of Pharmaceutical Industries and Associations)coreStrategic or Co-development PartnerAdelco operates under business ethics aligned with EFPIA ethical practices. The company's HCP (Healthcare Professional) code ensures that pharmaceutical promotion and interaction with prescribers is conducted honestly, avoiding misleading practices and potential conflicts of interest with healthcare professionals, always in accordance with applicable laws and regulations.
• Pharma LineminorChannel Partner/ Reseller/ DistributorAdelco distributes Pharma Line food supplements and medical-technological products which are imported from Italy, expanding the consumer products portfolio.
• S&R (Italy)minorChannel Partner/ Reseller/ DistributorAdelco distributes S&R food supplements and medical-technological products imported from Italy, complementing the consumer products business.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Vianex S.A. One of the largest Greek pharmaceutical manufacturers, producing generics, OTCs, and consumer health products. Highly comparable in portfolio breadth, Greek domestic presence, and manufacturing-led GTM.
• Pharmathen S.A. Greek-headquartered generics developer and manufacturer with strong EU and international export presence. Comparable on Greek origins, branded-generic focus, EU-GMP manufacturing, and export-led international expansion.
• Demo S.A. Pharmaceutical Industry: Greek pharmaceutical manufacturer of sterile injectables, generics, and hospital products with international export reach. Comparable on EU-GMP sterile injectable capability and export-led distribution model.
• Lavipharm S.A. Greek pharmaceutical and personal-care company with branded generics, OTC, and dermo-cosmetics. Comparable mix of pharma manufacturing and consumer/personal care brands across Greece and select export markets.
• ELPEN Pharmaceutical Co. Inc. Greek pharmaceutical manufacturer with branded generics, OTC, and contract manufacturing operations. Most direct local comparable given similar product mix, EU-GMP manufacturing footprint, and Greek/EU customer base.
• Help Pharmaceuticals: Greek pharmaceutical manufacturer focused on generics and OTC products with Greek and Balkan distribution. Comparable regional generics-and-OTC manufacturer targeting similar therapeutic categories.

Broad incumbents

• Almirall S.A. European specialty pharmaceutical company with branded generics, dermo-cosmetics, and consumer health focus. Comparable on the dermo-cosmetic and European-focused branded pharma positioning.
• Teva Pharmaceutical Industries: Global generic and specialty pharmaceutical manufacturer with extensive Rx/OTC portfolio. Comparable on generic manufacturing and global distribution but at vastly greater scale and product breadth.
• Stada Arzneimittel AG: European-focused generic and consumer health group with broad portfolio across generics, OTC, and specialty. Comparable generics/OTC manufacturer model but at significantly larger scale and broader geographic footprint.

Emerging players

• Recipharm AB: European pharmaceutical contract development and manufacturing organization (CDMO) offering sterile and solid-dose manufacturing services. Comparable on the contract-manufacturing and aseptic fill-finish service opportunity implied by Adelco's EU-GMP certified injectable facility.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks3 records

Key highlights5 records

Customer concentration

• Xx.com/adelcogr
• YouTubeyoutube.com/@AdelcoGr
• Facebookfacebook.com/adelcogr
• Pinterestpinterest.com/adelcogr
• LinkedInlinkedin.com/company/adelco-s-a-

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Adelco