April 18 (SeeNews) - Bulgarian drug maker Sopharma [BUL:3JR] said on Tuesday it has acquired 51% of Moldova’s drug distributor RAP Pharma International for an undisclosed price after receiving the approval of the Moldovan competition regulator.
RAP Pharma International owns 10 pharmacies and generated a turnover of more than 3 million euro in 2016, which is an increase of about 40% year-on-year, Sopharma said in a bourse filing.
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According to data from the Moldovan commercial registry, RAP Pharma International is 80% owned by Molfarm SRL, with individual investor Victor Alergus holding the remainder.
This is the latest in a series of recent acquisitions by Sopharma.
In March, Sopharma launched a buyout bid for the 22.37% stake in its Bulgarian peer Unipharm [BUL:59X] which it does not already own. The bid was temporarily suspended by the Bulgarian financial regulator earlier this month.
In February, Sopharma filed for regulatory approval to acquire Bulgaria's Doverie United Holding, in which it already owns over 25% interest.
In November, Sopharma acquired 68% of Bulgarian drug producer Veta Pharma.
Sopharma shares closed 0.34% lower on Tuesday at 4.055 levs ($2.21/2.07 euro) as 5,982 units changed hands on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)