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Farmacol left out of the race for CF Cefarm
2010-01-29
Farmacol has not been invited for advanced-stage talks about the privatisation of CF Cefarm, the last drug distributor remaining in state hands. Of the three investors who submitted final bids, the Treasury Ministry decided to open talks with Polfarmex, a Polish maker of drugs and dietary supplements, and Eko-Berry, a property developer, the Treasury Ministry announced on 27 January.
Although Farmacol did submit a final bid in time for the 15 January deadline, the company earlier admitted that it was having second thoughts about the merits of a deal, given that CF Cefarm derives the bulk of its revenues from so-called pre-wholesale sales (supplying to other wholesalers), a low-margin activity. As Dariusz Kiczek, Farmacol CFO, told Pharma Poland News, the key investment for the distributor was the acquisition of Cefarm Bialystok in 2009 for PLN 71.53m (€17m), which strengthened the company’s position in the north-eastern region of Poland. However, taking into account the trend towards distribution market consolidation, Farmacol would be eying the market for future acquisitions, he said.
The state is offering to sell 85% of shares in CF Cefarm. The ministry hopes to complete the privatisation in the first half of the year.
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Pharma Poland Online provides news, articles and market data on the pharmaceutical market in Poland, from manufacturers and distributors to medical devices and research developments. We have been covering this sector in detail since 2004 and an archive is available. Approximately 120 industry updates are added each month. For timely news delivery, custom newsletters can be sent directly to your e-mail account, with content personalisation.
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Subscription 1 year
Language: English
Delivery: online access
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Central Europe Pharma Online provides news, articles and market data on the pharmaceutical market in Bulgaria, Czech Republic, Hungary, Romania, Poland and Slovakia, from manufacturers and distributors to medical devices and research developments. Over 120 industry updates, covering manufacturers and distributors, medical news and research developments, together with news on laws and regulations governing the pharmaceutical sector are added on a regular basis. For timely news delivery, custom newsletters can be sent directly to your e-mail account, with content personalisation.
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Subscription 1 year
Language: English
Delivery: online access
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Pharma Poland News is an English language information service covering the pharmaceutical sector in Poland, and broadening its horizons to other Central and Eastern European countries. The service includes weekly and monthly newsletters, both delivered by email in pdf format.
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Date: Periodic publication
Language: English
Delivery: PDF file
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Central Europe Pharma News is a bi-weekly newsletter delivered in PDF format directly to your inbox. Each edition of the newsletter delivers news and analysis of the pharmaceutical sector in Bulgaria, Czech Republic, Hungary, Romania, Poland and Slovakia, including an in-depth feature on the pharmaceutical industry in the Central & Eastern Europe region written by PMR market analysts. A list of upcoming events relevant to the region and a company index are included in every issue.
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Date: Periodic publication
Language: English
No. pages: n/a
Delivery: PDF file
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