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Romania’s Farmaceutica Remedia to offer for sale pharmacy network for at least 5 mln euro

Romania’s Farmaceutica Remedia to offer for sale pharmacy network for at least 5 mln euro Farmaceutica Remedia

BUCHAREST (Romania), December 5 (SeeNews) – Shareholders of Romanian drug wholesaler Farmaceutica Remedia [BSE:RMAH] have approved plans to put up for sale its pharmacy chain for no less than 5 million euro ($5.55 million), excluding VAT, data posted on the Bucharest bourse showed.

The company's Board of Directors was authorised to identify a buyer for the pharmacies operated by Remedia, as well to negotiate contract terms and conditions, according to a statement published on the Bucharest Stock Exchange on Wednesday.

Farmaceutica Remedia was founded in 1991 and currently operates 90 own pharmacies in 14 counties across Romania and an e-shop platform since 2012. It also operates nine logistic centres and has over 600 employees, according to data posted on its website.

Its net profit decreased by 37.8% on the year to 1.6 million lei ($371,514/334,980 euro) in the first nine months of 2019, while its turnover edged down by 2% to 326.6 million lei.

The company is listed on the BVB since 1996.

The company's shareholders are Valentin Norbert Tarus with 65.5054%, Ionica Mirela Pavel  with 24.23 and others with 10.2581%.

The market capitalization of the company is 42.43 million lei, according to data from BVB.

Its shares last  traded 2.04% higher to 0.40 lei on the BVB on December 2.

(1 euro =4.7764 Romanian lei)

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