Sopharma signed a contract for the acquisition of the Serbian Pharmanova

Sopharma AD (Bulgaria) signed a contract for the phased acquisition of the Serbian pharmaceutical manufacturer Pharmanova within two years. The deal is subject to approval by the Serbian Competition Commission and will start with the acquisition of 25% of the company, followed by the acquisition of 50% after one year and 25% after two years, respectively, the company announced.

Pharmanova, founded in 1991. in Belgrade, sells its products with leading consumer brands in the markets of Serbia, Bosnia, Montenegro and Macedonia. For 2022, the company’s net sales revenues amount to ТEUR 10 225.

For the first half of 2023, Sopharma’s sales increased by a total of 13% incl. 1% decrease of sales for the domestic market and 24% increase in export sales.

Source: sopharmagroup.com; bse-sofia.bg