KERM gives green light for Cefarm's privatization, potential bidders line-up

KERM's recommendation envisages the incorporation of Cefarm by any investor that would be picked through an open tender. According to unofficial Rzeczpospolita sources a number of powerful local pharmaceutical distributors are vying for acquisition of Cefarm. Cefarm, with a workforce of 480, had sales revenues of zl. 109 million in 1998. With a market share of between 15-17% in the Tri-City region and a drugstore chain of 35, Cefarm is an attractive acquisition target for any company contemplating doing business in the region. Warsaw's drug distributors Orfe S.A. and Cormay S.A. as well as PGF S.A. of Lodz and Farmacol S.A. of Katowice are rumored to be potential bidders for Cefarm. (Rzeczpospolita, page B2).