News

2008-09-26 PHF seeks adviser for Polfa Tarchomin sale

Polski Holding Farmaceutyczny (PHF), the state-owned pharmaceutical holding company, has announced a tender for an external adviser to assist in the privatisation of Polfa Tarchomin, one of the three drug makers that PHF owns. The deadline for the submission of bids is 17 October.

The announcement came days after deputy treasury minister Jan Bury indicated that all the three companies would be sold off by the end of 2009 (see also the news item “Polfas to be sold off by end-2009”).

Polfa Tarchomin is the worst performer of the three. In 2007 it reported a 17% drop in revenues to PLN 240.5m (€73m) and plunged into a net loss of PLN 26.5m (€8m) after earning a profit of PLN 3.3m (€1m) in 2006. Last year it controlled 1.4% of the Polish pharma market by volume and 1% by value.

Source: pharmapoland.com