Sopharma sets up joint venture with Natur Produkt Zdrovit

The country’s leading drug maker Sopharma informs that it has set up a new company with the Polish pharmaceutical producer Natur Produkt Zdrovit. Sopharma will control 50.01% of the newly established entity. Natur Produkt Zdrovit produces effervescent vitamins and several proprietary medicines. The sales of the company reached EUR 27mn last year. Sopharma is one of the two major pharmaceutical companies in the country and controls roughly 10% of the local market. It carries out a EUR 37.7mn project for building a tablet plant, which will most likely move the company ahead of its closest competitor Actavis Bulgaria . In the first half of the year, Sopharma raised its sales by 14.3% y/y to BGN 80.9mn (EUR 41mn) and widened its non-consolidated net profit by 35% y/y to BGN 19.2mn.