Polpharma to buy Kazakhstan drug-maker: report

14th September 2011

Polpharma to buy Kazakhstan drug-maker: reportPolish pharmaceutical firm Polpharma is continuing to buy up foreign players in the drugs market. Following a finalized acquisition in Turkey and a planned takeover in Russia, the firm is now close to finalizing a significant deal in Kazakhstan, reported Puls Biznesu.

According to sources obtained by Puls Biznesu, on September 20, Polpharma will sign an agreement to buy a majority stake in Chimpharm, one of the largest drug producers in Kazakhstan.

Both the company’s board and the chairman of its supervisory board, Jerzy Starak, declined to confirm the news for Puls Biznesu.

In 2010, Chimpharm had revenues of z?.178 million and a net profit of z?.24.6 million, the newspaper wrote. The company is currently valued at z?.155.7 million, it added.

From Warsaw Business Journal