Bulgarian drug maker Sopharma 2015 sales revenue falls 14% Bulgarian drug maker Sopharma said on Monday its sales revenue fell by annual 14% in 2015. Domestic sales increased by 0.3% year-on-year in 2015, while exports fell by 20%, the company said in a bourse filing. In December alone, Sopharma's sales rose 8% compared to the same month last year as exports rose 32% and domestic sales fell by 16%. The growth in exports is primarily due to an increase, by 45%, in sales on the Russian market.
Source: profit.bg (12.01.2016)

Bulgaria's Sopharma offers 1.79 euro/share in Medica buyout Bulgarian drug producer Medica [BUL:5MA] said on Friday that it received a buyout offer from its majority stakeholder Sopharma [BUL:3JR] at 3.5 levs ($1.95/1.79 euro) per share. The offer targets 3.35 million Medica shares, representing a 33.28% stake in the company, Medica said in a bourse filing. In September Sopharma raised its stake in Medica to 66.72% by acquiring 3.08 million shares. Investment firm Elana Trading will act as investment consultant on the transaction.
Source: investor.bg (18.01.2016)

Bulgaria's Sopharma, Momina Krepost abandon merger plans Medical consumables maker Momina Krepost and drug maker Sopharma have agreed not to proceed with a planned merger, Momina Krepost said on Friday. The decision, taken in the interest of both companies, is aimed at preserving their market positions, Momina Krepost said in a bourse filing. In October, Sopharma said it signed a merger contract with Momina Krepost which envisages that all Momina Krepost assets be transferred to Sopharma. For each Momina Krepost share, shareholders would receive 0.655675 Sopharma shares, Sopharma said at the time. Momina Krepost's capital consists of 1,691,184 shares with a par value of 1 lev a piece.
Source: investor.bg (25.01.2016)

Finance Minister files BGN 62 M claim against pharmaceutical oligarch Vladislav Goranov is suing oligarch Ognyan Donev for damages to the treasury in the amount of BGN 62,779,725 ensuing from the company "Sopharma" as well as BGN 7,483,105 against Boris Borisov. Goranov's claim was filed yesterday. The court upheld it, adding a claim by the Ministry of Finance in the same amount against Donev and Borisov. At the request of both parties the trial will be a shortened procedure. However, the court rejected the request of defense lawyers to not read the indictment of the prosecution, only the operative part.
Source: Standart (01.02.2016)

Bulgarian drug maker Sopharma Jan sales revenue rises 40% Bulgarian drug maker Sopharma said on Thursday its sales revenue rose by 40% in January compared to the same month last year. Domestic sales revenues increased by 2% year-on-year in January, while exports added 99%, the company said in a bourse filing. The increase in Sopharma's sales on the foreign markets was due to the lower amount of sales recorded during the same month last year when the company temporarily withdrew its sales from Russia. The decision was taken considering the volatility of Russian currency at the time. Sopharma's net profit fell toBGN 22.3 million in 2015, from previous year's BGN 24.7 million. Total revenues also decreased to BGN 174 million in the period under review, from BGN 201.5 million in 2014.
Source: investor.bg (05.02.2016)

Bulgarian drug maker Sopharma boosts stake in subsidiary Medica to 97.5% Shareholders in Bulgarian drug producer Medica, holding a total stake of 30.78%, have accepted the buyout offer of its majority owner Sopharma, their consultancy said on Thursday. Sopharma had offered to buy 3.35 million Medica shares at a price of BGN 3.5 per share, representing a 33.28% stake in the company, aiming to fully acquire it. Sopharma has the right in a three month period to make a bid for the remaining 2.5% of Medica shares, investment firm Elana Trading said on its website. Medica's shareholders also have the right to sell their shares to Sopharma at the price of BGN 3.5 per share. In September 2015, Sopharma raised its stake in Medica to 66.72% by acquiring 3.08 million shares.
Source: investor.bg (19.02.2016)

SEE Link launched two new blue-chip indexes on 1 April’16 - SEELinX and SEELinX EWI. The first one is a market capitalization weighted index adjusted for the free float of the companies, while the second one is an equally weighted index with the same constituents. The base level of each index is set at 100 points and will be calculated in real time in EUR. The constituents of the new indexes include: Hrvatski Telekom [ZSE:HT-R-A]; Podravka [LJE:ZTOG]; Ericsson Nikola Tesla [ZSE:ERNTR- A]; Valamar Riviera [ZSE:RIVP-R-A]; Atlantic Grupa [ZSE:ATGR-R-A]; Advance Terrafund [BUL:6A6]; Sopharma [BUL:3JR]; Alkaloid [MSE:ALK]; Monbat [BUL:5MB]; and Komercijalna Banka [MSE:KMB].
Source: Banker (05.04.2016)

Bulgaria’s Medica Q1 net profit falls 33.8% y/y Bulgarian producer of drugs and medical supplies Medica’s first quarter net profit rose 38% year-on-year to BGN 390,000. The company’s net sales revenue fell by an annual 4.1% to BGN 3.95 million in January-March. Last week, Medica said it plans to resume dividend payments after a two-year pause, proposing to its shareholders to approve the distribution of a net dividend of BGN 0.14 per share, equal to a total amount of BGN 1.4 million from its 2015 profit. Medica's net profit rose 33.8% last year to BGN 2.2 million. The balance of BGN 797,382 will be transferred to retained earnings. In February, Bulgarian drug maker Sopharma boosted stake in Medica to 97.5%.
Source: investor.bg (26.04.2016)

Sopharma has interest for the Serbian Galenica Three companies, among which the Bulgarian Sopharma bought information memoranda for participation in privatization of Serbian pharmaceutical company Galenica. The end term for participation in the initial procedure is the 4th of May. The state sells 25% of its 70% stake in the producer, as it relies on a strategic partnership with the buyer. In 2016 Sopharma plans to expand also via acquisitions out of Bulgaria. Galenica is the second in market share pharmaceutical company in Serbia. The local market is with Bulgarian’s size-around EUR 1.5 billion. Sopharma extended its presence in Serbia last year when its subsidiary-wholesale retailer Sopharma trading also opened a local company. Galenica’s debts are assessed at more than EUR 220 million. It is a generic company, found in the 40’s of last century that presently employs 1400 people.
Source: Capital (27.04.2016)

Bulgaria's Sopharma Trading declares 11% higher dividend Bulgarian drug distributor Sopharma Trading plans to pay a gross dividend of BGN 0.3 per share, up from BGN 0.27 per share paid out last year. Sopharma Trading will propose to its shareholders to approve the distribution of BGN 9.8 million out of the company's 2015 net profit of BGN 12.16 million. The balance will be transferred to reserves. Sopharma Trading is 72%-owned by Bulgarian drug maker Sopharma
Source: Capital (04.05.2016)

Company close to Sopharma bought 6.4% of Albena invest holding Telecomplect invest is buyer of a package of 350 thousand shares or 6.36% of capital of the ex-privatization fund Albena invest holding, which was traded on BSE on the 21 of April. The deal passes threshold of 5% stake. Seller is expectedly resort company Albena, as price of the deal is BGN 6.37 per share, which makes BGN 2.23 million. Buyer Telecomplect invest is the second largest shareholder in pharmaceutical company Sopharma with slightly over 20%. Albena invest holding controls nine subsidiaries, among which Albena, Alfa consult 200, Fohar, Bulgaria-29 and the White lagoon.
Source: Capital (05.05.2016)

Sopharma sold its Serbian factories Sopharma sold majority stake in Serbian factories Ivanchich and sons. Deal for the sale was concluded on the 9th of May in Belgrade. As of the end of March investment of 51% in the company is assessed to BGN 5.739 million. Bulgarian pharmaceutical company will continue to operate on the Serbian market via its subsidiary Sopharma Trading. Last year Sopharma trading which is the largest in terms of sales revenues Bulgarian company for wholesale trade in pharmaceuticals and medical equipment opened its own company in Belgrade. Subject of sale is not only majority share of 51% of Sopharma but also stake of Serbian shareholders. The most likely buyer is Hemofarm, the largest local pharmaceutical company, which in 2006 became the property of the German generics company Stada.
Source: 24 chasa (11.05.2016)

Bulgarian drug maker Sopharma sales drop 13% in H1 as exports plunge Bulgarian drug maker Sopharma said its January-May sales revenue dropped by an annual 13%, driven down by a decline in exports. Domestic sales revenues fell 3% year-on-year in in the first five months of the year, while exports plunged 19%, the company said in a bourse filing. It added that the decline in domestic sales revenues was due to the fewer working days in May. In January-April, Sopharma's sales revenue dropped by an annual 4%. At the time, it said that the downward trend in Russia, one if its core markers, is expected to persist. Sopharma, Bulgaria's biggest drug maker, has subsidiaries in Belarus, Poland, Latvia, Lithuania, Ukraine, and Kazakhstan, as well.
Source: investor.bg (07.06.2016)

Bulgaria's Sopharma Trading pre-tax profit up 5% y/y in Jan-May Bulgarian drug distributor Sopharma Trading said on Friday its pre-tax profit rose by an annual 5% to BGN 6.2 million in January-May. Sales revenues for the five-month period edged up 1.3% on the year to BGN 250.3 million. In May alone, Sopharma Trading recorded a pre-tax profit of BGN 1.06 million, up 21% on the year, on sales revenues of BGN 49.2 million, up 4% year-on-year. Sopharma Trading is a unit of Bulgarian drug maker Sopharma
Source: investor.bg (20.06.2016)

Pharmaceutical companies have paid physicians 21 million leva for congresses, "Sega" writes on its front page. For the first time, part of the pharmaceutical manufacturers will reveal how much money they have paid for sending physicians to congresses and symposiums. Bulgarian physicians and health organizations have received a total of 21 million leva in 2015 for attending such events, show preliminary data from the Association of the Research-based Pharmaceutical Manufacturers in Bulgaria (ARPharM). The money was spent on assisting or organizing educational scientific events, registration fees, physicians' fees, travel and accommodation costs. Some 14 million were paid to doctors and seven million to health organizations. In addition to that, the innovative companies have invested 150 million leva in clinical trials and research in Bulgaria, for which the participating physicians also get paid. Each of the 22 multinational companies, which are members, will publish data on Wednesday that contain the names of the participating physicians, their specialty and the sum they have received. Sixty per cent of the participating physicians have agreed to have their cooperation with the pharmaceutical companies announced, the ARPharM said, which its Executive Director Deyan Denev described as a very good indicator for the initiative. It is held across Europe and is part of the Code for Disclosure of Transfers of Value by Pharmaceutical Companies to Healthcare Professionals and Health Organizations.
Source: Sega (29.06.2016)

The Financial Supervision Commission confirmed the prospectus for the initial public offering of shares of Sopharma Properties REIT, which will be issued as a result of the forthcoming capital increase of the company. The decision is to increase the capital of the company from BGN 18.087 million to BGN 19.257 million by issuing new 1.17 million shares was taken by the Board of Directors of the company on April 22, 2016. Issue price of the new shares is BGN 4.70 and if the capital increase is recorded at 100%, the accounts of the company would do almost BGN 5.5 million capital of the company will be increased only if subscribed and paid at least 585 000 new shares. Ratio between rights issued and the new shares is 15,459 / 1. The previous capital increase of Sopharma Properties REIT was conducted in 2015 and then gathered amount was BGN 4.479 million.
Source: profit.bg (28.07.2016)

Bulgarian drug maker Sopharma H1 net profit jumps 30.4% y/y Bulgarian drug maker Sopharma said on Thursday its first-half non-consolidated net profit jumped 30.4% on the year to 33.8 million levs ($19.1 million/17.3 million euro) mainly on the back of lower costs for external services and higher financial revenues. The company's operating revenues fell by an annual 10.3% to 78.9 million levs in January-June, it said in a bourse filing, adding that this was offset by lower costs for raw materials and for external services, which declined by 3.3% to 29.7 million levs and by 32% to 14.9 million levs, respectively. Thus, operating profit rose 3.5% to 14.3 million levs. At the same time, Sopharma's financial revenues jumped 47.7% on the year to 22.8 million levs. Sopharma operates 15 pharmaceutical plants in Bulgaria, two in Serbia, and one in Ukraine and owns also a distribution firm. It sells 70% of its production on the domestic market and 28% in Europe. Sopharma shares ticked up 0.4% to 2.699 levs at 13.45 CET on Thursday on the Bulgarian stock exchange.
Source: profit.bg (29.07.2016)

Bulgaria's Sopharma Properties launches 2.8 mln euro cash call Bulgarian real estate investment trust (REIT) Sopharma Properties said on Monday it will seek to raise some 5.5 million levs ($3.1 million/2.8 million euro) via a share capital increase on the Sofia bourse to refinance debt. The company is offering existing shareholders to subscribe for one new share for every 15.5 shares already held in the company at an issue price of 4.70 levs per share, it said in a bourse filing. The raised funds will be used to partially repay a debt related to the construction of its Sopharma Business Towers office building in Sofia. The share capital increase will be carried out only if at least 585,000 shares are subscribed for. The par value of the new shares will be 1.0 lev apiece, so the company's nominal share capital will be increased from 18.1 million levs to up to 19.3 million levs. Sopharma Properties is majority owned by local blue-chip drug maker Sopharma
Source: investor.bg (01.08.2016)

Bulgarian drug maker Sopharma 7-mo sales revenue falls 3% y/y on lower exports Bulgarian drug maker Sopharma [BUL:3JR] said on Friday its January-July sales revenue dropped by an annual 3%, driven down by a decline in exports. Domestic sales revenues were flat year-on-year in the seven-month period, while exports fell 4%, the company said in a bourse filing. As a result of the strong sales in July, Sopharma managed to significantly reduce the decline in sales revenue for the seven-month period, which was caused primarily by the unstable Russian market, it noted. Sopharma's first-half sales revenue dropped by an annual 10%, with domestic sales down 3% and exports down 15%. Sopharma, Bulgaria's biggest drug maker, has subsidiaries in Serbia, Belarus, Poland, Latvia, Lithuania, Ukraine and Kazakhstan. Sopharma was trading up 0.29% at 2.798 levs ($1.59/1.43 euro) by 14:40 CET on the Sofia bourse.
Source: investor.bg (08.08.2016)

Over 40% growth in business over the past two years is something, which each company with 20 years of history would be proud of. Plovdiv-based bicycle manufacturer Leader - 96 already looks ambitiously to third consecutive year with a similar increase. The estimates seem feasible - in February the company opened its new factory, which doubled its capacity and can now produce over 500 thousand bikes a year, and major European markets are enjoying a growing interest. The company has a new engine as well – a financial investor entered the company pouring EUR 7 mln in the business. The Finnish fund KJK Capital acquires 60% stake in Leader - 96 through a capital increase for its investment. The other shares are owned by the founders of the company - Peter Kurshumov, Georgi Zlatanov and his son Dimitar Zlatanov.
Source: Capital (19.09.2016)

Bulgarian drug maker Sopharma is offering to buy 16.79% of drug producer Veta Pharma for EUR 1.6 million, Veta's parent company Doverie United Holding has announced. The offer envisages the purchase of 762,300 shares in Veta Pharma owned by Bulgarian trade company Homogen, a subsidiary of Doverie United Holding. The offer is subject to approval by Doverie United Holding's board of directors. In September, Homogen's board of directors approved the sale of the company's stake in Veta Pharma. Veta Pharma manufactures non-sterile medicinal products – powdered products, dermal solutions and tinctures for oral use. Sopharma shares traded 0.30% lower at BGN 2.955 in a turnover of 1,836 shares as of 13:00 CET on the Bulgarian Stock Exchange. Doverie United Holding shares last traded on Monday, when they closed 5.19% lower at BGN 0.730, as 650 shares changed hands.
Source: investor.bg (06.10.2016)

Sopharma will negotiate the purchase of a drugs wholesaler in Moldova Sopharma has expressed interest to acquire the drugs wholesale company in Moldova and waits for permission from the local concentration of anti-monopoly commission within 10 days. This was announced by Ognyan Donev, Chairman of the Board of Directors of Sopharma. He would not comment on how long negotiations would continue and eventual cost of the transaction. He also announced that Sopharma registered its drug in Sweden, the Czech Republic and Slovakia, and plans to expand its portfolio there and in other European countries. Donev noted that he was cautious about the outlook for final recovery of growth in sales of one of the biggest markets - Russia, because he of possible new devaluations in the currency and shock to the market. According to him, the market in Ukraine has reached bottom last year and is now expected to grow, and the company is doomed to remain in these two markets because it has industrial and commercial companies there.
Source: Capital (10.10.2016)

Bulgarian Alcomet's 2016-2017 investment plan targets 35% rise in output Bulgarian aluminium products maker Alcomet expects its EUR 36 million 2016-2017 investment programme to result in a 35% increase in production at the current profitability levels. The planned investments target capacity expansion, diversification of the product range, increasing production efficiency, optimizing and improving the technical and technological parameters of the processes and ensuring the higher quality of rolled and extruded products. The first stage of the investment programme includes installation of a cold rolling mill and the necessary related facilities, as well as converting five furnaces from electricity to natural gas, and others. As part of a large-scale investment programme, over the last 10 years Alcomet spent EUR 75 million in upgrading its production facilities, increasing its output nearly four times.
Source: Capital (07.11.2016)

Sopharma wants to buy 100% of the Beta Pharma Sopharma’s management has decided to buy 100% of the capital of Turnovo-based pharmaceutical company Beta Pharma. The buyer offered for the entire company BGN 9.62 million. Beta Pharma produces three groups of products - medicinal products, food supplements and cosmetic products. The company employs 50 people. Net revenues from sales last year were BGN 2.17 million, over 95% of which are from production. Beta Pharma was at a small loss of BGN 32 thousand at a profit of BGN 68 thousand. Sopharma increased its individual net profit for the first nine months of 2016 by 32% to BGN 37 million, compared to BGN 28 million for the same period last year. The incomes from export sales have decreased by 11%, while domestic sales grew modestly by 1%. Since the beginning of the year the market capitalization of Sopharma has risen by over 10% to BGN 410 million.
Source: Capital (08.11.2016)

Four Bulgarian pension funds invested BGN 22 million with SOFIX-based exchange-traded fund Expat Bulgaria. The investment in Expat Bulgaria ETF was made by pension funds Doverie, Allianz Bulgaria, NN and DSK Rodina. The fund's growth will allow Expat Asset Management to continue with its plan to stir the Bulgarian capital market by launching a procedure for cross-listing of the fund's units on a large foreign market. This will ensure the access of foreign investors from all over the world to the fund, which will further increase its size. Expat Asset Management is a wholly-owned subsidiary of Expat Capital, which is managing private investment accounts and three mutual funds – Expat Emerging Markets Stocks, Expat Global Equities, and Expat Bonds.
Source: Capital (09.11.2016)

Bulgaria’s Sopharma acquires 68% of drug producer Veta Pharma Bulgarian drug maker Sopharma said on Friday it acquired 68% of local peer Veta Pharma. Sopharma did not name the seller or the price in the bourse filing announcing the deal. However, in a separate bourse filing issued also on Friday Sofia-based Doverie United Holding said that its unit Homogen sold its 16.79% share in Veta Pharma. Doverie United Holding did not name the buyer. Sopharma has offered 1.6 million levs for Homogen’s 16.79% share in Veta Pharma, Doverie United Holding said last month. Last week, Sopharma said in a bourse filing that its board of directors has decided to acquire up to 100% of Veta Pharma’s capital at a price of no more than 2.12 levs ($1.18/1.08 euro) per share. Veta Pharma manufactures non-sterile medicinal products – powdered products, dermal solutions and tinctures for oral use. Sopharma shares closed 1.72% lower at 2.6873 levs on Friday in a turnover of 7,695 shares on the Bulgarian Stock Exchange.
Source: Capital (14.11.2016)

Bulgaria's Sopharma seeks regulatory approval for buyout bid for Unipharm Bulgarian drug maker Sopharma has notified the country's financial regulator of its offer to acquire the 22.37% stake in local medicinal products manufacturer Unipharm which it does not already own. The company did not disclose further information about the offered price for the remaining 1.342 million shares of Unipharm it plans to acquire from the other shareholders. Last week, Unipharm said in a bourse filing that Sopharma has increased its stake in Unipharm by acquiring a further 8.87%. In the same filing Unipharm said that local company Telso has exited the company, selling its 8.87% stake.
Source: profit.bg (12.12.2016)

Bulgarian drug maker Sopharma boosts stake in Doverie United Holding Bulgarian drug maker Sopharma has increased its stake in Doverie United Holding to over 20%. The company was notified that Sopharma has acquired a total of 320,000 shares in a two deals – one registered in the Central Depository on Monday and one due to be registered on December 20. Sopharma’s stake in Doverie United Holding stood at 14.9% as of September 30. Last week, the only day when 320,000 or more Doverie United Holding shares were traded was Friday, when 382,675 shares changed hands at an average price of BGN 1.069. On Monday, 703,000 Doverie United Holding shares had changed hands on the Sofia bourse, of which 692,000 in a block deal at a price of BGN 1.07 apiece. Doverie United Holding spans 20 companies operating in six industrial branches and located in 15 cities in Bulgaria and Europe. Sopharma operates in the research, development, production, and trade of drugs, vaccines, infusion solutions, medical disposable products, and food supplements primarily in Europe and Bulgaria.
Source: econ.bg (20.12.2016)