Torrent Pharma of India wants to buy Jelfa pills producer

APA - Austria Presse Agentur
19-08-2005, 07:56

Warsaw (Puls Biznesu) – The Agency of Industrial Development ARP said that one more company applied to buy 47.5 percent of Jelfa pharmaceutical producer – Torrent Pharma of India. “We have asked Jelfa management to include Torrent in their schedule of meetings with interested entities”, Arkadiusz Krezel, ARP CEO said.

Warsaw (Puls Biznesu) – The Agency of Industrial Development ARP said that one more company applied to buy 47.5 percent of Jelfa pharmaceutical producer – Torrent Pharma of India. “We have asked Jelfa management to include Torrent in their schedule of meetings with interested entities”, Arkadiusz Krezel, ARP CEO said. Grindex of Latvia, AB Sanitas of Lithuania, Polfa Kutno (belongs to Ivax group which is being acquired by Israeli Teva) and Lupin of India plus two investment funds: Enterprise Investors and Advent are also interested in the stake.

Torrent Pharma had sales of PLN 373.2m (EUR 93m) last year, net income of PLN 37.9m and operating income of PLN 61.3m. Jelfa’s sales in 2004 exceeded PLN 274m, net income amounted to PLN 9.4m and operating income to PLN 15.2m. The value of the generic pharmaceuticals in Poland amounts to PLN 10 billion and keeps growing.

(PLN 1 = EUR 0.249)

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Podpis: APA - Austria Presse Agentur

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