Athens – Greek chemical and human and veterinary pharmaceutical company Alapis S.A., which was formed in May by a merger of the Greek firms Veterin, Ebik and Elpharma, is expanding rapidly through acquisitions in south-eastern Europe. In mid-August, the firm, which has announced six-month revenues of €133 million, €59.6 million thereof in the healthcare sector, took over 99.7% of the Greek pharmaceutical manufacturer Farmalex for € 14.3m. With this acquisition, Alapis is expanding its production facilities with a 7,500-square metre plant in Pallini, which now will be modernised and completed with an R&D laboratory.
The Farmalex purchase is the latest in a raft of buy-ups across central and southern Europe. In August, Alapis expanded in the field of biochemical diagnostics. The Greek firm announced it will buy a 95% stake in Biochem Diagnostics for €21.4 million, one of the major import & trade companies in the Greek market for diagnostic products. At the end of July, Alapis bought a 68.3% stake in Serbia‘s Sumadijalek, a distributor of human pharmaceutical products from Bayer and Boehringer Ingelheim, from the national privatisation agency for €2.18 million. Alapis has already established wholly owned subsidiaries in Serbia and Hungary to produce and sell veterinary pharmaceuticals. Veterin Farmaceutika in Zagreb, Croatia, produces and sells human pharmaceuticals.