Polpharma to swallow Lithuanian company Norfachema

Polpharma from Starogard Gdanski, the state-owned pharmaceutical manufacturer, wants to takeover Lithuanian pharmaceutical company Norfachema. The deal, to be clinched in the second half of this year, will be the first step in the company's plan to consolidate the pharmaceutical industry in Eastern Europe. According to unofficial information Polpharma will acquire a 90% stake in Norfachema from Lithuanian consortium Viachema with the remaining 10% to be kept by the Norwegian Norfa. In October last year Polpharma signed its first contract with Norfachema for the packaging of its products and in the future half of Popharma's turnover is to be generated outside Poland. Polpharma's privatization however is still being delayed by the constant changes among Prokom, Spectra Management and TuiR Warta, the Polish investors who were granted exclusive negotiation rights last June. (Puls Biznesu, page 12) P.S.