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27.11.2007

Bulgarian Sopharma eyes Ukraine

The Bulgarian drug maker, Sopharma is to acquire the Ukrainian pharmaceutical manufacturer, Vitamini. The transaction fills into Sopharma’s expansion strategy to increase its shares in the Russian, Ukrainian and Polish markets. In 2006 Vitamini’s sold output was worth $5.3m (?3.6m), which ranked it as the 13th largest producer in the Ukraine. Prior to the transaction, Sopharma had a 1% share of the Ukrainian market, worth $1.7bn. Earlier this year, Sopharma opened a warehouse and an office in Kiev, the drug producer is also operating such facilities in Tbilisi, Georgia and Almaty. In September the company has established a joint venture with Polish Natur Product Zdrovit, while in October Sopharma revealed its plan regarding the purchase of a minority stake in Olainfarm, one of the biggest pharmaceutical companies in the Baltic region. In February 2008, Sopharma is to debut at the Warsaw Stock Exchange.
Source:  polishmarket.com

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