Polpharma looks for foreign acquisitions

APA - Austria Presse Agentur
opublikowano: 15-02-2005, 10:48

Warsaw (Puls Biznesu) – Polpharma, Poland’s biggest pharmaceutical company, is still looking for an acquisition target abroad. The company failed to buy Russian Nizhpharm. Earlier, the company tried to buy a unit of US ICN company in Russia. ‘We lost the tender to buy Nizhpharm, but our strategy has not changed.

Warsaw (Puls Biznesu) – Polpharma, Poland’s biggest pharmaceutical company, is still looking for an acquisition target abroad. The company failed to buy Russian Nizhpharm. Earlier, the company tried to buy a unit of US ICN company in Russia. ‘We lost the tender to buy Nizhpharm, but our strategy has not changed. We want to build the position of a regional company in Central and Eastern Europe. We are holding negotiations to buy several foreign companies’, Jacek Glinka, Polpharma CEO said.

He believes, the plan was possible as Polpharma is one of five biggest pharmaceutical companies in this region. He wants to compete with Pliva, KRKA, Gedeon Richter and Zentiva. ‘The second element to increase sales will be exports growth. Today, it is about 15 percent of sales. In 2004, exports grew 30 percent, and this year, we want it to grow even more’, Jacek Glinka enumerated. Besides, the company is to introduce 7-9 new medicines.

According to IMS data, Polpharma increased sales in 2004 from PLN 679.2 m to PLN 690 m (EUR 171.2 m). Its market share grew from 5.19 percent to 5.20 percent. The data do not cover sales in places outside drugstores, including kiosks or gas stations where Polpharma sells a big part of its products (6 percent of sales).

(PLN 1 = EUR 0.248)Poland/Enterprises/Healthcare

 

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Podpis: APA - Austria Presse Agentur

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