CHISINAU (Moldova), June 22 (SeeNews) – Moldova's Felicia Group said that it has signed an agreement to take over the local drug wholesale and retail operations of Hungarian-based pharmaceutical and biotechnology company Gedeon Richter.
Felicia plans to acquire drug wholesaler RihPanGalFarma, a Moldovan-Hungarian joint venture company established in 1996 by Gedeon Richter, with two warehouses, and pharmacy chain Gedeon Richter - Retea Farmaceutica, set up in 2008, with 39 units, the group said in a press release on Monday.
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"We consider this fusion to be beneficial both to our customers and the pharmaceutical market of the Republic of Moldova, serving as a successful example of how the international standards are being implemented in our country," Felicia Group general manager Natalia Sturza said.
The acquisition procedure takes place in compliance with all EU standards and requirements, is transparent, and is carried out under the monitoring of all parties involved, including external monitoring of the competent European authorities on the territory of Hungary, the group noted.
The transaction is pending approval from Moldova's competition authority since January. The takeover would take place through the two companies that form the Felicia pharmaceutical group - Grin-Farm and Birivofarm, according to the announcement issued by the authority at the time.
Felicia Group was founded in 1997 in Chisinau by Moldovan businessman Dorian Berdos and currently operates a network of 130 pharmacies and a warehouse, employing over 1,000.