Bulgarian drug maker Sopharma said on Thursday its sales revenue inched up by 0.4% to 210 million levs in 2011. The company’s revenue from sales on the domestic market increased by 3.3% last year, while exports dipped by 0.9%, Sopharma said in a statement filed to the Sofia bourse. In December alone, Sopharma’s sales revenue rose by 38% on the year, including 48% annual growth in domestic sales and 29% increase in exports. “The economic and political environment in Europe, the echo of the world crises and a number of administrative obstacles limited the growth rates during 2011,” the statement added. “During the second half of 2011 we came across a number of administrative problems, which disrupted our exports to Russia and other significant markets. After some of these issues were solved in December we managed to realize double digit growth for Caucuses and Middle Asia, the Balkan region, Moldova, as well as growth in the export sales for the Ukraine and the Baltic states,” the statement quoted Sopharma’s executive director Ognian Donev as saying.
Source: Capital (06.01.2012)

Rio Tinto plans world-first driverless rail network Miner Rio Tinto will use driverless trains to deliver its iron ore to ports in Western Australia in what it said will be the world's first automated, long-distance, heavy-haul rail network. Rio said a US$518 million investment would see the launch of the first driverless train in the vast and mineral-rich Pilbara region in 2014 with the full project scheduled for completion a year later. "Expanding Pilbara iron ore production is a high-return and low-risk investment for Rio Tinto that will enhance shareholder value," said Rio's chief executive for Australia and iron ore, Sam Walsh. "Automation will help us meet our expansion targets in a safe, more efficient and cost-effective way." The Anglo-Australian mining giant, which is facing sustained demand from Asia for raw materials, said automation would improve efficiency and allow the company to address the significant skills shortage facing the industry. But the announcement has raised fears that the 500 workers Rio employs on its Pilbara trains will be axed, with the Construction, Forestry, Mining and Energy Workers' Union describing the skills shortage line as propaganda. (AFP)
Source: Other (20.02.2012)

NGOs: The price of medicines may decline if there is a political will The price of medicines in Bulgaria may decline if there is a political will. Yesterday, patient and professional organisations, integrated in the Public Health Council, consolidated around this position. "We insist on the existence of accessibility and transparency in the supply of medicines. Clear rules should be drafted, as well as algorithms and major national policy. So far, no political will has been expressed for selecting a particular model of drug policy - either liberal, or regulated. We would like to know whether there is a political will and how the prices of medicines in Bulgaria will be regulated," stated Adelina Lyubenova, Deputy Chairwoman of the Bulgarian Pharmaceutical Union. "We disagree with the allegations of Finance Minister Simeon Dyankov. We demand a lower VAT rate at least for the prescribed medicines and it must be the same as the one in the neighbouring countries," added she. According to the Chairman of the National Patients' Organisation, Stanimir Hasardzhiev, two years ago the participants in the Public Health Council delivered proposals on prevention of the risks of disruption in the supply of drugs and increase in their prices, but they were not reflected in the drug policy of the country. Unfortunately, our forecasts for higher prices came true, concluded he. In March last year, the Ministry of Health set up a working group to draft a drug policy concept, reminded Hasardzhiev. "Our work continued for more than three months. We came up with lots of suggestions, but our reports were not used. Why does Health Minister Konstantinov convene the same working team tomorrow," asked he rhetorically. According to the Chairman of the National Patients' Organisation, this meeting is only a PR policy. "As of tomorrow, we will try to reduce the medicine prices and will discuss them with the pharmaceutical companies, which have already agreed to decrease the prices by 5 percent," commented Stanimir Hasardzhiev. He reminded that two years ago the Association of Research-based Pharmaceutical Manufacturers in Bulgaria signed the proposal of the National Health Insurance Fund for a 5% rediction of all medicinal products, covered by the Institution. Plamen Taushanov, lawyer from the Bulgarian Association for Patients' Rights Defense, highlighted in his turn that the public opinion deviated its focus from crucial issues. According to him, the shares of all pharmaceutical manufacturing companies operating on the Bulgaria market, which is estimated at BGN 2 bn, should be analysed. The players on this market should be considered, as well as their activities and the real drug prices, recommended he. Taushanov also insisted that the Commission for Protection of Competition should be approached with respect to all pharmaceutical companies operating at this segment of the Bulgarian market. In his words, the society needs to know what percentage of the medicine prices is covered by the Bulgarian patients out of their pockets and how this injustice could be repaired. The EU patients cover additionally 20% of the price of medicines, while we pay 56%, indicated Taushanov.
Source: Class (27.02.2012)

Bulgarian and foreign companies operating in the country, invest in their own factories and logistics centers, reported commercial real estate consultants. Some of the largest bases are of Sopharma and Simid in Sofia. Their area is respectively 20,000 and 26,000 square meters. Total, about 7 production, warehousing and logistics facilities are under construction in the capital, two are in Elin Pelin region. There is one in Lovech, Rousse, Varna and Haskovo. According to data of Forton there are 38 thousand square meters of industrial areas around Sofia under construction. Total finished new logistics and production centers have 647,000 square meters. 68% are built to meet companies’ own needs. Only 5% are the vacant spaces.
Source: 24 chasa (28.02.2012)

Sopharma AD-Sofia (3JR) For the month of February 2012, Sopharma AD realised a growth in its sales by 20% where compared to the same month in the preceding year, inclusive of a 10% decrease in the domestic market sales and a 33% increase in the export sales. As from the beginning of the current year, the proceeds from sales have increased by 3%, inclusive of a 23% reduction on the domestic market and a 13% increase in the export sales.
Source: Class (06.03.2012)

The Gramercy Fund will withdraw two of its investments in Bulgaria – in the Sopharma pharmaceuticals company (where it held a 12% stake) and the Prista Oil Group (where it had a 30% share). Thus Gramercy’s Bulgarian portfolio will from now on consist of its stake at Bulgarian American Credit Bank (BACB), Business Park Sofia and several real estate projects.
Source: Capital (09.04.2012)

Sopharma JSC - Sofia has appointed Annual general meeting on 19.06.2012. Meeting agenda includes: adoption of the Annual Report for Year 2011, amendments in the statute, changes within the management bodies.
Source: Registry Agency (10.05.2012)

Bulgarian drug producer Medica sales revenue rose by an annual 28% in the first half of the year. The company’s turnover through June amounted to BGN 10.2 million, as sales of medical devices accounted for some 59% and the rest came from medicine sales. Both exports and domestic sales increased in the period under review. Reported sales surpasses by 5% company's business plan. Sales at the hospital market has increased by 28 %, without registering increase of hospitals' debts to the company.
Source: Capital (05.07.2012)

Employees of the Ministry of Interior and the Prosecution have made raids in companies related to Ognyan Donev. The information was confirmed unofficially by the Sofia City Prosecutor's Office. These are the offices of the companies Elpharma and Telso, related to Sopharma. Searches are due to signal for money laundering against Lubomir Pavlov and Ognyan Donev, which was submitted in early 2011 by their partners in the purchase of Media Group Bulgaria - Hristo Grozev, Karl Habsburg and Daniel Ruts, in which they were convicted. Company Telso has common control with Sopharma Properties and Farmalogistika, which are owned by Sopharma. Telso is owned by an offshore company. Manager and owner of Elpharma is Ognyan Donev.
Source: mediapool.bg (20.07.2012)

Bulgarian pharmaceutical company Sopharma's financial director Boris Borisov has been charged with tax evasion amounting to BGN 15 M. Monday Borisov was questioned at Bulgaria's National Bureau of Investigation, and has been released on a BGN 100,000 bail. Apart from Borisov, Sopharma's executive director Ognyan Donev has also fallen under the hits of the prosecution on charges he says are completely fabricated. Donev is charged with tax crimes and money laundering and is on a BGN 500,000. Together with an associate, the Sopharma CEO owns Trud and 24 Chasa, two of Bulgaria's most influential daily newspapers.
Source: Darik Radio (24.07.2012)

Major Bulgarian pharmaceutical producer Sopharma has swallowed "Bulgarian Rose Sevtopolis", a local producer of pills. The paperwork for the merger has been submitted to Bulgaria's Financial Supervision Commission, money.bg reported Wednesday. Bulgarian Rose Sevtopolis – based in the Central Bulgarian town of Kazanlak – is a successor of the former state-owned Bulgarian pharmaceutical and cosmetics producer "Bulgarian Rose"; it has been listed on the Sofia Stock Exchange since 2003. Sopharma announced back in June 2012 that it is working to take over Bulgarian Rose Sevtopolis as well as some other smaller pharmaceutical firms – Unifarm AD and Medica AD.
Source: investor.bg (01.11.2012)