Bioton to finance expansion via massive share issue

In about five years time they are expected to post revenues of roughly zl.200 million. Bioton is currently in the process of due diligence on the enterprises in questions. The companies have been evaluated at zl.67 million. They own patents for 25 registered medicines. The Polish company hopes to enter the generic medicines market and in the long run break into the American market. At present, Bioton has a 1.2% market share, and it aims to increase this to 5%. The company already operates in Asia, the South America and is completing a project in Russia. It is also negotiating increasing its stake of Ukrainian Indar and is preparing to constructing a plant in China. The investments, altogether estimated at zl.275-300 million, will be co-financed by a new share issue worth zl.1.5 billion. Bioton expects this year's sales to total zl.250-300 million and hopes to post a three-digit profit. Last year it posted a gross profit of zl.24 million on revenues of zl.151 million. (Puls Biznesu, p.19) J.L.