PGF picks up Cefarm as part of plan to pump up presence

While the State Treasury will retain an 18.5% stake in Cefarm, it is possible that 15% of this will be redistributed among employees. The share capital of the new company will amount to zł.27 million, although the Office for Competition and Consumer Protection still needs to agree on the merger. PGF has promised to invest zł.6 million in tangible assets over the next three years and to keep 670 jobs. Last year, PGF posted a net profit of zł.36.8 million and hopes to increase its present 20% share of the domestic drug distribution market to 40%. Thus, it also plans to participate in the forthcoming privatization of Cefarm Białystok. (Puls Biznesu, p.10) E.B.