Sale of Euroapteka suspended

Vilniaus Prekyba, a Lithuanian company which owns Euroapteka, decided to delay the sale until Euroapteka improves its profitability and suspended the tender as the company owners decided that the offers submitted were far below their expectations (zl.40 million). It is known that at least one of the bidders - Centrala Farmaceutyczna Cefarm reduced its offer. According to unofficial information, at least one Polish investor is still interested in Euroapteka. The bidders also reportedly had some reservations concerning the financial results of the company. In 2002 and 2003 Euroapteka incurred significant losses which decreased slightly in 2004 but still amounted to zl.780,000. The result for 2005 is still unknown.(Puls Biznesu, p. 10) E.B.