Gedeon Richter starts total takeover of Pharmafarm

Pharmafarm shares, listed on the Bucharest Stock Exchange’s electronic Rasdaq market, rose some 4.32 percent yesterday, up to RON 1.45 (€0.39) per share. Armedica Trading is offering RON 1.54 per share, 6.2 percent higher compared to yesterday’s quotation. The company plans to finalize its acquisition of the remaining 4.22 percent of Pharmafarm by 4 March 4.

The Hungarian producer purchased the controlling interest in Pharmafarm from German group Celesio last October, to consolidate its position on the Romanian market. When the deal is finalized, Gedeon Richter will have a 7 percent share of the local distribution market.