What Master Pharm does

Master Pharm S.A. is a Poland-based, publicly listed (Warsaw Stock Exchange: MRP) contract manufacturer of dietary supplements, cosmetics, and medical devices, founded in 2002 and headquartered in Łódź. The company operates two production facilities — a soft-capsule plant in Łódź and a dry-form, syrup, and probiotic plant in Mielec (via the wholly-owned subsidiary Grokam GBL Sp. z o.o., now subject to a 2023 merger) — and deliberately does not sell its own retail brands, instead manufacturing exclusively for pharmaceutical clients under their labels. Its technical differentiation rests on proprietary formulations including vegan soft capsules (launched December 2021), iron and magnesium chelation technologies, spore-forming probiotic strains, and nitrogen-atmosphere stick packaging, several of which were co-financed by the EU under the Smart Growth Operational Programme; the company also holds ISO 22000:2005, ISO 13485:2012, HACCP/GMP, and CE markings for Class I/IIa/III medical devices such as the Ketonal Termo warming plaster.

Master Pharm's business model is project-based B2B contract manufacturing with bespoke quote-based pricing and dedicated client specialists. Revenue streams include (1) core contract manufacturing across dietary supplements, cosmetics, and medical devices; (2) product documentation and regulatory notification services; (3) pharmaceutical consulting and marketing services for client brands; and (4) import-export intermediation for raw materials (vitamins, plant extracts) and finished products. Customers are pharmaceutical companies and distributors, with named Polish and international partners including Polpharma, Adamed, Takeda, Teva, Glenmark, Bioton, Synoptis, and Avet Pharma (its wholly-owned distribution subsidiary), supported by active exports to Germany, Lithuania, Russia, Switzerland, the Czech Republic, and Slovenia, with stated expansion plans into the USA, Canada, and Asia.

The company is self-described as a leader in contract manufacturing of dietary supplements in Poland and has accumulated multiple regional awards (Gazele Biznesu, Forbes Diamonds, Orzeł Wprost, Łódź Voivodeship Economic Award) and certifications (D&B business credibility certificates, ISO standards). Following its April 2016 WSE IPO (PLN 32.5–54.5M raised, post-money ~PLN 108.5M), Master Pharm has used EU co-financing to fund internationalization, proprietary R&D, and new dosage-form capabilities, while consolidating its capital structure via the 2023 Grokam GBL merger.

Name

Master Pharm

Legal name

Master Pharm Spółka Akcyjna

Website

https://masterpharm.pl

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

Master Pharm S.A. is a Poland-based, publicly listed (Warsaw Stock Exchange: MRP) contract manufacturer that designs and produces dietary supplements, cosmetics, and CE-marked medical devices for pharmaceutical clients, operating two production facilities in Łódź and Mielec without competing on retail brands.

Ownership category

akta.pro rank

Product category

Contract Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411)

SIC

Pharmaceutical Preparations (2834), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Generic Finished Dosage Form (FDF) Manufacturing (HLAIABAH)

Keywords

• Contract dietary supplement manufacturing
• Private label supplement production
• Medical device contract manufacturing
• Cosmetic contract manufacturing
• Pharmaceutical contract development

Headquarters

HQ city

Lodz

HQ country

Poland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Contract Manufacturing Services: Primary revenue stream from contract manufacturing of dietary supplements, cosmetics, medical devices, and food for special nutritional purposes. Services span from product concept through creation to final product. The company does not sell own retail products, only manufactures for clients, eliminating competition with customers.
2. Product Documentation Services: Preparation of product documentation at every stage of product implementation including specifications, composition certificates, technical labels, packaging guidelines, graphic projects, raw material certificates, scientific opinions, and production reports.
3. Pharmaceutical Consulting: Expert consulting services including strategic analysis, portfolio development strategy for OTC, dietary supplements, and dermocosmetics, market trend monitoring, product concept development, and marketing plan creation.
4. Import/Export Services: Trading intermediary services for raw materials (vitamins, plant extracts) and finished medical devices. Imports from EU and non-EU countries; exports finished products under client brands.
5. Marketing Services: Creation of marketing plans for client brands, brand and product portfolio management, and e-marketing, public relations, ePR, and social media communication services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Master Pharm is a B2B contract manufacturer that designs, develops, and produces dietary supplements, cosmetics, and medical devices on behalf of pharmaceutical clients. The company operates two production facilities covering multiple dosage forms (soft and hard capsules including vegan soft capsules, tablets, sachets, sticks, syrups, drops, gummies, plasters, gels, ointments, and micropellets) and provides full lifecycle support from product concept through documentation, regulatory notification, and finished product delivery. The company intentionally does not sell its own retail products, ensuring no competition with its clients.

Product overview

Master Pharm SA is a contract manufacturer providing comprehensive services for dietary supplements, cosmetics, and medical devices - from concept through product development to wholesale production. The company does not compete with clients as it does not sell its own retail products. The core offerings include: (1) Dietary Supplements Contract Manufacturing covering capsules (soft, hard, vegan), tablets, sticks, sachets, syrups, drops, gummies; (2) Cosmetics Contract Manufacturing including creams, gels, ointments, roll-on, and spray forms; (3) Medical Devices including Class I/IIa/III products (warming plasters like Ketonal Termo, cooling plasters like Altacet Ice, analgesic gels). Supporting services include product documentation preparation, import-export services, pharmaceutical consulting, and marketing services. The company operates two production facilities - Plant 1 in Mielec for dry forms (tablets, capsules, sticks, sachets) and Plant 2 in Łódź for soft capsules including innovative vegan soft capsules launched in 2021.

Differentiator

Problem solved

Functional benefit

Products and services

• Dietary Supplements Contract Manufacturing End-to-end contract manufacturing of dietary supplements from concept and formulation through finished product delivery. Covers multiple dosage forms including hard and soft capsules, tablets, sachets, sticks, syrups, drops, gummies, and micropellets. Offered to pharmaceutical brand owners seeking outsourced production without building internal capacity, with full documentation and regulatory support.
• Cosmetics Contract Manufacturing Contract manufacturing services for cosmetics in multiple forms: creams, gels, ointments, roll-on, and spray formats. Includes complete product launch support from concept through finished product. Targeted at cosmetic brands and pharmaceutical companies that market dermocosmetics.
• Medical Devices Design, Manufacturing, and Distribution Design, manufacturing, and distribution of Class I, IIa, and III medical devices, including warming plasters (e.g., Ketonal Termo, CE marked by notified body TÜV Rheinland No. 0197), cooling plasters (Altacet Ice), and analgesic gels (Altacet Junior Gel). Served pharmaceutical clients seeking CE-marked medical device production.
• Product Documentation Services Standalone service for preparing product documentation across the product implementation lifecycle, including product specifications, certificates of composition, technical labels, packaging guidelines, graphic designs, raw material certifications, scientific institution opinions, and product analysis certificates. Provided to clients seeking regulatory and quality documentation in addition to manufacturing.
• Import-Export Services Trading intermediary services covering import of raw materials (vitamins, plant extracts) and medical devices from EU and non-EU countries (Taiwan, Japan, China), and export of finished dietary supplement, cosmetic, and medical device products to European markets including Germany, Lithuania, Russia, Switzerland, Czech Republic, and Slovenia.
• Pharmaceutical Consulting Services Expert consulting services covering strategic company analysis, OTC and dietary supplement portfolio development strategy, dermocosmetics strategy, market trend monitoring, product concept development, pharmaceutical marketing, brand and product portfolio management, and trade intermediation. Supports pharmaceutical clients building or expanding product portfolios.

Quantifiable outcome

• Over 130 dietary supplement projects completed
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

22 partnerships are on record, tiered core, major, minor and strategic.

• European Union (Smart Growth Operational Programme)coreStrategic or Co-development Partner · 1 January 2021EU co-financing for vegan soft capsule technology project (POIR.03.02.02-00-1989/20). Total project cost: PLN 1,718,500 with PLN 773,325 co-financing from European Regional Development Fund.
• European Union (Smart Growth Operational Programme)coreStrategic or Co-development Partner · 7 September 2018EU co-financing for R&D projects on iron chelation technology (PLN 773,325 funding) and magnesium chelation technology under Smart Growth Operational Programme.
• European Union (Regional Operational Programme of Łódź Voivodeship)coreStrategic or Co-development Partner · 1 September 2017EU co-financing for internationalization strategy project: 'Internacjonalizacja Master Pharm poprzez opracowanie strategii wejścia na rynki eksportowe oraz zwiększenie międzynarodowej ekspansji firmy'.
• PolpharmacoreChannel Partner/ Reseller/ DistributorMajor Polish pharmaceutical company listed as a partner. Represents significant distribution channel for contract manufacturing services.
• AdamedcoreChannel Partner/ Reseller/ DistributorPolish pharmaceutical company partnering for contract manufacturing services.
• TakedacoreChannel Partner/ Reseller/ DistributorInternational pharmaceutical company listed as partner for distribution and manufacturing services.
• GlenmarkmajorChannel Partner/ Reseller/ DistributorInternational pharmaceutical company (Glenmark Pharmaceuticals) as distribution partner.
• BiotonmajorChannel Partner/ Reseller/ DistributorPolish biotechnological/pharmaceutical company as distribution partner.
• Bioprofile/PharmenamajorChannel Partner/ Reseller/ DistributorPolish pharmaceutical company listed as partner for manufacturing services.
• Avet PharmacoreChannel Partner/ Reseller/ DistributorWholly-owned subsidiary (100%) handling distribution. Company declared Superproduct 2015 award for Morwa Biała Plus supplement.
• GROKAM GBL Sp. z o.o.coreChannel Partner/ Reseller/ DistributorWholly-owned subsidiary (100%) operating production facility in Mielec. Merged with Master Pharm S.A. in February 2023.
• Teva (Tava)majorChannel Partner/ Reseller/ DistributorInternational pharmaceutical company as distribution partner.
• Pharmaswiss (Pswiss)majorChannel Partner/ Reseller/ DistributorPolish pharmaceutical company as distribution partner.
• SynoptismajorChannel Partner/ Reseller/ DistributorPolish pharmaceutical company as distribution partner.
• Europlant-group/Phytopharm (Ppharm)majorChannel Partner/ Reseller/ DistributorPharmaceutical company focused on plant-based medicines as distribution partner.
• Cpharma (Avetpharma)majorChannel Partner/ Reseller/ DistributorPolish pharmaceutical company as distribution partner. Connected to Avet Pharma subsidiary.
• SalvumminorChannel Partner/ Reseller/ DistributorPolish pharmaceutical company listed as distribution partner.
• BiogenedminorChannel Partner/ Reseller/ DistributorPolish pharmaceutical/biotechnological company as distribution partner.
• Politechnika Łódzka (Technical University of Łódź)strategicTechnology or IntegrationScientific research partnership for medical device testing and analysis in cooperation with research units including pharmacology, toxicology, biochemistry, and biopharmacy departments.
• Narodowy Instytut Leków (National Medicines Institute)strategicTechnology or IntegrationScientific partnership for medical device and dietary supplement testing and research.
• Instytut Matki i Dziecka (Mother and Child Institute)strategicTechnology or IntegrationScientific research institution for obtaining required scientific opinions for product registration.
• Narodowy Instytut Zdrowia Publicznego - PZH (National Institute of Public Health)strategicTechnology or IntegrationScientific institution for food safety and dietary supplement research opinions.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Others

• ACG Group: ACG is a global supplier of empty hard and softgel capsules, capsule filling equipment, and related processing technology — adjacent ecosystem partner whose capsule products and machinery Master Pharm would use in its contract manufacturing operations.

Broad incumbents

• Aenova Group: Aenova is a leading European pharmaceutical contract manufacturer offering solid dosage forms, softgels, and sterile liquids — comparable to Master Pharm's European contract manufacturing footprint but operating across the full pharma value chain at much larger scale.
• Delpharm: Delpharm is a major French pharmaceutical contract manufacturer across solid, liquid, sterile, and semi-solid dosage forms — overlapping with Master Pharm's CDMO activity in Europe but serving a much larger pharma customer base.
• Recipharm: Recipharm is a Swedish-headquartered CDMO providing contract manufacturing of solid, semi-solid, and sterile pharmaceutical dosage forms — comparable in CDMO business model and European footprint to Master Pharm, though operating at significantly larger scale.
• Catalent: Catalent is a large global CDMO serving pharma and consumer health including softgel and oral dose manufacturing — overlapping with Master Pharm's dosage-form manufacturing but at materially larger scale and across broader therapeutic categories.

Direct peers

• AdvaCare Pharma: AdvaCare Pharma operates as a global manufacturer and distributor of pharmaceutical and dietary supplement products across multiple dosage forms, with a private-label/OEM offering analogous to Master Pharm's contract manufacturing services.
• Bioplus Life Sciences: Bioplus Life Sciences is an India-headquartered contract manufacturer of dietary supplements and nutraceuticals in capsules, tablets, and other dosage forms — analogous B2B supplier model with strong EU export orientation similar to Master Pharm.
• NutraScience Labs: NutraScience Labs is a US dietary supplement contract manufacturer offering capsules, tablets, softgels, and gummies for private-label brands — directly comparable to Master Pharm's core dosage-form contract manufacturing.
• Sirio Pharma: Sirio Pharma is a China-based contract development and manufacturing organization focused on dietary supplements, nutraceuticals, and consumer health products — directly comparable to Master Pharm's B2B CDMO model across capsules, softgels, tablets, gummies, and other dosage forms.
• Robinson Pharma: Robinson Pharma is a US-based contract manufacturer of dietary supplements, vitamins, and nutritional products with multiple dosage formats — overlapping directly with Master Pharm's supplement contract manufacturing offering and private-label B2B model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/master-pharm-polska-sp-z-o-o-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 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 Master Pharm