business and economy
Polish company to buy Kazakhstan’s largest pharmaceutical producer
(SRI) - Polish pharmaceutical company Polpharma is reportedly close to buying a majority stake in Khimpharm, one of Kazakhstan’s largest pharmaceutical producer, according to Polish business media.
The two companies plan to sign the deal on September 20, Polish Puls Biznesu business daily reported last week.
Khimpharm’s products are marketed in Kazakhstan under the brand name of Santo, a well-known local pharmaceutical brand.
The Kazakh company’s revenues were roughly $57 million in 2011 and its net profit was $8 million, Puls Biznesu reported. It is reportedly valued at roughly $50 million, according to the Polish daily.
Polpharma bought a majority stake in Turkish pharmaceutical company Cenovapharma in May 2011 and plans an acquisition in Russia.
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