Polfa to buy Russian firm
NewConnect-listed pharmaceutical firm Polfa has signed a letter of intent on the acquisition of Russian manufacturer Biokhimik, the company said in a statement. Polfa plans to buy a majority, controlling stake in the Russian firm.
After the takeover is completed, Biokhimik will be renamed Polfa Russia. The factory will be modernized. Polfa plans to implement Good Manufacturing Practice (GMP) rules in the unit.
The Russian firm now produces some 100 pharmaceuticals, mostly for hospital use. All of them are registered and sold in Russia, while some are also marketed in CIS countries and Vietnam.
