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Russian pharmacy chain to expand
Pharmacy Chain 36.6 plans to expand its pharmacy network to 1,450 outlets across Russia by December 2007 and continue establishing 500 retail outlets annually until 2009, the company's Director for Corporate Cinance and Investor Relations Maxim Arkhipov told a press conference. He implied that such plans would also involve the acquisition of regional chains.
Commenting on the company's financial initiatives, Arkhipov announced that the company expected to float additional shares in September-October.
The executive also denied the company's alleged intention to sell its stake in pharmaceutical producer Veropharm to the transnational giant GlaxoSmithKline, adding that the investment was "very profitable".