A takeover in Moldova’s pharma industry

(Rodrigo Senna, CC BY)

Latvia keeps 12 per cent VAT on medicines

More than 31 million tourists visited Czech Republic in 2016

Bulgaria, Moldova

SeeNews Corporate Wire informs on acquisition of Moldova’s RAP Pharma by Bulgarian Sopharma. As reported, the Bulgarian company has bought 51 per cent stake of Moldovan drug producer. The value was not disclosed.

As Sopharma reveals, RAP Pharma, although owning only 10 pharmacies, was an interesting target as a high growing company. In 2016 its turnover exceeded EUR3m, being up 40 per cent y/y. The company was established in 2004 and in 2014 it received a license for pharmaceutical wholesaling and distribution. As Sopharma’s press release states, it is now “the most intensively developing company in the Republic of Moldova”.

In late 2016 and early 2017 Bulgarian Sopharma also acquired Bulgarian Doverie United Holding and Veta Pharma.

Sopharma, the manufacturer of medicinal products, is a leading pharmaceutical producer in Bulgaria, with 210 products (including 15 originals and 195 generics) and 15 production facilities. It has subsidiaries in Russia, Serbia, Poland, Latvia, Lithuania, Belarus, Ukraine and Kazakhstan. Company’s annual revenues reach BGN889.52m (EUR452m).

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Latvia

The Latvian government will not lift the reduced VAT rate for drugs. It will remain 12 per cent while the standard VAT rate is 21 per cent. Latvian Prime Minister Maris Kucinskis informed that the proposal of the Latvian Confederation of Employers (LDDK) will not be considered by the government.

Last week Latvian Minister of Finance informed it considers lifting reduced VAT on medicines in order to get additional EUR83m for financing health care.

The Health Minister Anda Caksa opposed and said she would prefer “that the extra funds for the health care come from the financing of new policy initiatives rather than from lifting the reduced VAT on medicines, as this would further restrict availability of health care to people in Latvia”.

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Czech Republic

Radio Praha reports that more than 31 million of foreign tourists visited Czech Republic in 2016. It’s the record and up 12 per cent y/y but three fifths haven’t spent the night there.

The data released by the state agency CzechTourism also show that tourists spent CZK228bn which is up 10 per cent.

40 per cent of the foreign tourists were Germans, 12 per cent – Slovaks and 9 per cent – Austrians but many of them simply entered the country to go shopping.

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What’s up in indexes

BET (of Bucharest) decreased from 8,264 index points Friday, April 14th to 8,232.65 index points Tuesday, April 18th. It’s down 0.38 per cent d/d and up 24.14 per cent y/y.

BUX (of Budapest) decreased from 32,622.40 index points as of Thursday, April 13th to 32,521.58 index points Tuesday, April 18th. So it’s down 0.31 per cent d/d and up 20.09 per cent y/y.

CROBEX (of Zagreb) increased from 1,905.29 index points Thursday, April 13th to 1,944.72 index points Tuesday, April 18th. So it’s up 2.07 per cent d/d and up 18.21 per cent y/y.

OMXR (of Riga) decreased from 797.68 index points Thursday, April 13th to 793.83 index points Tuesday, April 18th. So it’s down 0.48 per cent d/d and up 26.34 per cent y/y.

OMXT (of Tallinn) decreased from 1,118.61 index points Thursday, April 13th to 1,116.79 index points Tuesday, April 18th. So it’s down 0.16 per cent d/d and up 14.69 per cent y/y.

OMXV (of Vilnius) increased from 569.21 index points Thursday, April 13th to 574.18 index points Tuesday, April 18th. So it’s up 0.87 per cent d/d and up 15.10 per cent y/y.

PX (of Prague) decreased from 976.52 index points Thursday, April 13th to 968.06 index points Tuesday, April 18th. So it’s down 0.87 per cent d/d and up 7.01 per cent from year-end.

SAX (of Bratislava) decreased from 309.11 index points Thursday, April 13th to 305.83 index points Tuesday, April 18th. So it’s down 1.06 per cent d/d and down 7.54 per cent y/y.

SOFIX (of Sofia) decreased from 657.79 index points Thursday, April 13th to 652.89 index points Tuesday, April 18th. So it’s down 0.74 per cent d/d and up 50.06 per cent y/y.

UX (of Kyiv) increased from 1038.86 index points Friday, April 14th to 1,039.90 index points Tuesday, April 18th. So it’s up 0.10 per cent d/d and up 71.27 per cent y/y.

WIG20 (of Warsaw) increased from 2,233.63 index points Thursday, April 13th to 2,237.36 index points Tuesday, April 18th. So it’s up 0.17 per cent d/d and up 14.95 per cent y/y.

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