October 25 (SeeNews) - Bulgarian drug maker Tchaikapharma High Quality Medicines [BUL:7TH] said on Friday that it is seeking the approval of its shareholders to acquire ten properties near Sofia from local drug wholesaler Commercial League - Global Pharma Center for 14.85 million levs ($8.4 million/7.6 million euro).
Tchaikapharma shareholders will vote on the proposal at a meeting scheduled for December 5, the company said in a bourse filing.
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Commercial League - Global Pharma Center closed 2018 with a net profit of 616,000 levs, up from 420,000 levs in 2017, according to its most recent financial statement. The company's revenue rose to 78.1 million levs last year from 70.4 million levs in 2017.
Tchaikapharma's net profit edged up to 5.0 million levs in the first half of 2018 from 4.9 million levs in the comparable period of 2018. Revenue grew to 18.8 million levs in the first six months of the year from 18.5 million levs in the same period of 2018.
Tchaikapharma's portfolio includes over 150 pharmaceutical products.
(1 euro = 1.95583 levs)