August 27 (SeeNews) - Bulgarian blue-chip drug maker Sopharma on Wednesday said it has increased its stake in Ukrainian pharmaceutical producer Vitamini to 99.07% after buying 20% for an undisclosed sum.
Sopharma bought 45,041,146 shares in Vitamini, representing 20% of the share capital, the Bulgarian company said in a filing with X3 News, the information service of the Bulgarian Stock Exchange.
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Sopharma officials were not immediately available to provide further details.
The Bulgarian drug maker bought more than 74% of Vitamini in late 2007 at an undisclosed price and has made several acquisitions in southeastern Europe in the last couple of years aiming to strengthen its position as a regional player.
Sopharma exports most of its production to Russia, Ukraine, Poland, Kazakhstan and Latvia. The company’s first-half net profit fell 49.2% year-on-year to 9.7 million levs ($7.4 million/5.0 million euro) as total costs rose 29%.
Sopharma stock closed 0.1% lower at 4.4 levs in a volume of 14,047 shares on Wednesday. The filing was made after the close of bourse trading.
(1 euro = 1.95583 Bulgarian levs)