Polpharma seeks to acquire foreign firm in export drive

Polpharma, the country's largest pharmaceuticals producer, increased its sales by over 20% in 2002 - nearly doubling its 2001 profits - and now intends to take over a foreign company thanks to which it hopes to increase its sales abroad. Two bids are currently being considered. "The transaction may be financed either through bank loans or by [Polpharma's investor] Jerzy Starak. We do not yet have December's results, but I believe the company's net profit will reach zl. 86 million," said Polpharma president Pavel Mirovsky. The director of the Polpharma plant said the firm would like to co mplete the acquisition before Poland joins the EU. (Puls Biznesu, p. 10) A.Z.