Treasury halts sale of CF Cefarm

2010-07-09

The Treasury Ministry on 6 July pulled out of talks with Polfarmex about the privatisation of CF Cefarm, the last drug distributor remaining in state hands, after concluding that its offer was “grossly insufficient”. The sale, which had originally been scheduled to be completed by the end of March and then by end-June, has thereby been halted for an unspecified period of time. Maciej Wewior, the ministry’s spokesman, said that there would be a new auction, but that it was too early to speak about the details.
The Treasury was offering to sell 85% of shares in CF Cefarm. The company employs about 300 people. Traditionally its focus was on pre-wholesale sales and imports, but it is also developing a proprietary pharmacy network.