Sanitas sells production site
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).