SOFIA (Bulgaria), June 20 (SeeNews) – The Bulgarian competition authority said on Tuesday the intention of Sopharma Trading [BUL:SO5] to acquire control of 19 pharmacies making up the PharmaStore chain might potentially lead to a distortion of competition.
“The possibility of Sopharma Trading to operate 19 more pharmacies could enhance the company’s independence from its clients as well as from its partner drug manufacturers,” the Commission for Protection of Competition said in a statement.
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“It is also likely that the deal will affect the pharmaceutical market, causing inequality among drug retailers, imposing trade conditions, restricting delivery of certain products, etc.,” the regulator added.
As a result, the competition authority is launching an in-depth investigation before deciding whether to grant approval for the acquisition, it said.
Sopharma Trading held a market share of between 20% and 30% on the wholesale pharmaceutical market in 2016, according to the statement.
The company operates 16 pharmacies, located in four Bulgarian cities, under the SOpharmacy brand.
Sopharma Trading shares closed 0.12% lower at 8.14 levs ($4.6/4.2 euro) on Tuesday, in a volume of 16,180 units.
(1 euro = 1.95583 levs)