PHF asks state for green light on Polfa Tarchomin merger

Andrzej Szukalski, the head of Polish Pharmaceutical Holding (PHF), has appealed to the Treasury Minister Jacek Socha to allow Polfa Tarchomin (PT) to join the firm as soon as possible. Although PT needs to undergo restructuring, PHF believes it would be much more reasonable to start this process after a merger, as then any changes would be made in line with the interests of the merged entity as a whole. However, that said, PHF's board members have not yet agreed on the actual shape and future of their own company. At present, PHF is not officially registered and therefore does not actually have any headquarters, personnel or budget. It is believed that it may take around three more months to register PHF, as all key decisions have so far been hampered by the unstable political situation in the country. Socha himself has refused to reveal the amount he intends to spend from the budget on the new pharmaceutical holding until its registration process has been completed. (Puls Biznesu, pp. 1, 6) J.J.