Bioton insulin producer close to new acquisitions

APA - Austria Presse Agentur
10-03-2006, 16:59

Warsaw (Puls Biznesu) – Bioton has 90.54 percent of SciGen. Investors expect further news soon. The stock grows.

Warsaw (Puls Biznesu) – Bioton has 90.54 percent of SciGen. Investors expect further news soon. The stock grows.

When the tender offer to buy all shares of the Singaporean SciGen ends, Bioton, the Polish listed insulin producer, will control 90.54 percent of its capital. The Polish company plans geographical expansion. It is going to launch – together with its local partners – plants in China, Russia and Ukraine. Today, SciGen is not profitable. It will be within two years when the company will sell the serum hepatitis vaccine.

Investors bought Bioton’s stock eagerly yesterday. Shares were rising even 5.9 percent to PLN 17.15 (EUR 4.4) . Last year, the company had PLN 19.22m of net income against PLN 151.9m of sales. Its market capitalization amounts to PLN 2.9 billion.

(PLN 1 = EUR 0.257)

 

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Podpis: APA - Austria Presse Agentur

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