Baltic Countries

Sanitas sells production site

12.05.2010

Kaunas/Martin – Lithuania’s largest pharmaceutical manufacturer Sanitas AB transferred its ownership in Slovakia’s HBM Pharma sro to the Lat­vian company SIA Liplats 2000 at the end of April.
The companies have agreed to transfer HBM Pharma Ltd.’s production unit in Slovakia, while HBM’s marketing and registration departments in both Prague and Bratislava will be separated and transferred to the Sanitas Group, together with the employees and assets of these divisions. The companies announced that the change does not mean any transformation of HBM as a legal entity, nor a change in the company’s financial positions, and explained that they expect to complete the transaction by this July. Last year the Lithuanian firm reported a net profit of Lt17.8m (EUR5.2m) following a net loss of Lt1.9m (EUR0.6m) in 2008. The company’s sales, however, declined by almost 16% to Lt322.7m (EUR93.6m). Additionally, sales of its own products fell by almost 20% to Lt251.7m (EUR73m). Sales of the company’s largest product group (ointments) dropped by 19% to Lt113.5m, (EUR32.9m), sales of tablets decreased by 18% to Lt93m, (EUR27m) and injective formulations dropped around 28% to Lt40.5m, (EUR11.7m).

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Kaunas – US-based Valeant Pharmaceuticals International Inc. said in mid-May that it is purchasing an 87.2% share in Lithuanian generic drug maker Sanitas AB for EUR314m in cash, and will make a mandatory tender offer to acquire...

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Kaunas – US company Valeant Pharmaceuticals International, Inc. wants to purchase Lithuanian generic drug maker Sanitas AB for EUR314 million in cash. Shareholders of Sanitas have already agreed to sell Valeant 87.2% of Sanitas’...

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Vilnius/Waltham – The life sciences tools market is slowly being whittled down to a few major players. At the end of May, Lithuania’s largest lab supplier was the most recent target of an acquisition, when US lab giant Thermo...

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