June 1 (SeeNews) - Bulgarian pharmaceuticals producer Sopharma [BUL:SFA] said on Thursday that its board of directors decided to conduct a detailed analysis of potential opportunities to take ownership in companies active in the making or marketing of healthcare products in Serbia.
Sopharma will explore the possibility to purchase stakes or equity shares in manufacturers or suppliers in Serbia of medicines, food supplements, medical devices or other health-related products, the Bulgarian company said in a bourse filing.
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The board has authorised company representatives to evaluate, research and conduct initial negotiations with a view to carrying out a possible acquisition of joint participation and/or a majority share in the capital of companies that fit the target.
In Serbia, Sopharma is active in the distribution of pharmaceutical and medical suppliers, sanitary products, food supplements and cosmetics through its subsidiary Sopharma Trading.
In Southeast Europe, Sopharma already has operations in Moldova. Further away, it is also active in Ukraine, Russia, Belarus, Azerbaijan and Georgia. The company earlier this week posted a 49% jump in its first-quarter consolidated net profit to 33.6 million levs ($18.4 million/17.2 million euro) , largely driven by a surge in sales to a number of foreign markets in Europe.
Shares in Sopharma closed 3.39% higher at 6.10 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)