Arterium bids for Polfa Warszawa, eyes WSE listing

Arterium Corporation, Ukraine’s #4 largest pharmaceutical company by sales, is bidding for Poland’s Polfa Warszawa and plans to list on the Warsaw Stock Exchange in case of acquisition, Interfax reported Friday, citing the press secretary of the company. Arterium is one of five companies that have passed the qualification stage for Polfa Warszawa, the others being Poland’s Adamed and Polpharma, Actavis Polska and China’s Harbin Gloria Pharmaceuticals. Polfa Warszawa’s 2010 sales amounted to PLN 365 mln (EUR 89.5 mln) and net income to PLN 44 mln (EUR 10.78 mln). Arterium’s 2010 sales grew 29% y-o-y to EUR 77 mln and net income rose 26% y-o-y to EUR 14 mln. Ukrainian businessman Konstantin Zhevago of Finance & Credit Group is  Arterium’s beneficiary owner. Artermium Corporation is the holding for Kyivmedpreparat (UX: KMED UK).