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Bulgarian Sopharma Purchases Vitaminy Pharmaceuticals

Bulgarian Sopharma Purchases Vitaminy Pharmaceuticals

19 November 2008

Sopharma (SFARM BU), second largest Bulgarian pharmaceutical company by sales, has signed an agreement to purchase a 75% stake in Ukrainian pharmaceutical plant Vitaminy for USD 10 mln, according to ISI Emerging Markets. Sopharma has 10% of the Bulgarian market and sales in 2006 of USD 198 mln, more than half of which are exports, mostly to Poland, Russia, Ukraine and other CIS countries. Sopharma’s current MCap is USD 883 mln. Cherkasy-based Vitaminy, the 13th largest domestic pharmaceutical manufacturer, produces over 64 different products and posted revenues in 2006 of USD 5.3 mln.

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