PolandPoland

IVAX Revises Offer for Polfa Kutno

08.05.2004

Miami - US-based IVAX Corp., Miami, revised its offer to acquire the shares of Kutnowskie Zaklady Farmaceutyczne Polfa SA (“Polfa Kutno”) in late April. IVAX intends to buy, in exchange for IVAX stock, up to 100%, but not less than 75% of the shares of the Polish pharmaceutical company, which is listed on the Warsaw Stock Exchange, for a price of PLN340 ($84.77) per share. The IVAX shares may be in the form of common stock or Polish depositary receipts (“PDRs”), representing shares in the common stock of IVAX, and would be listed on the Warsaw Stock Exchange. IVAX has also entered into a Letter of Intent for commercial collaboration with Polfa Kutno.
The Polish pharma company produces and sells prescription and over-the-counter (“OTC”) products and is considered to be one of Poland's leading pharmaceutical companies. Its revenues for 2003 exceeded PLN245 million ($61.1 million), with net profit of over PLN30 million ($7.48 million). “IVAX, having had a positive experience with our own small company in Poland, is eager to increase our presence in this important and growing market, the largest in Central Europe. Our existing Polish Company, IVAX Poland, would be merged with Polfa Kutno. Our experience indicates that the high level of professional talent there provides a basis for making our Polish business a valuable member of the IVAX family”, commented Phillip Frost, MD, IVAX Corporation chairman and chief executive officer.
IVAX has also agreed to support Polfa Kutno's efforts to acquire shares of Jelfa S.A., another of Poland's leading pharmaceutical companies, from the State Trea-sury.

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07.03.2012

Polish antibody development and manufacturing specialist Mabion S.A. more than tripled its revenues in 2011 (€2.5m) compared to 2010 (€0.74m). The increase in turnover mainly resulted from stronger client demand for R&D services...

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01.03.2012

Polish company Bioton S.A (Warsaw) and Swiss-headquartered generics giant Actavis (Zug) have joined forces to shake up the €12bn world market for recombinant insulins and insulin analogues. At the end of January, Bioton Chairman...

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31.01.2012

Zug/Warsaw - The fourth largest generics producer and a polish biotech want to create a stir in the market for diabetes drugs. Swiss Actavis and Bioton from Warsaw announced that they have formed a joint venture company for the...

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10.12.2011

Krakow – Polish Selvita S.A., which offers preclinical drug development services to pharma companies, has been ranked as the No. 1 “Rising Star” of this year’s Fast50 contest. In the programme, analysts from Deloitte Technology...

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09.12.2011

Warsaw – Poland’s Bioton S.A. has announced it is investing €20m in a new production plant in Szczecin. The biotechnology company is planning to manufacture insulin injection devices in the facility. The project involves the...

PolandPoland

01.10.2011

Warsaw – Biotech experts want to make the development of pharmaceutical and medical innovations a priority in Poland. At the start of September, members of the Polish Technology Platform for Innovative Medicine recommended that...

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02.08.2011

Kraków – Selvita SA CEO Pawel Przewiezlikowski announced at the end of July that the Polish drug development and drug discovery service firm is close to achieving profitability. After bagging EUR3.7m through an IPO on Warsaw’s...

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12.06.2011

Warsaw – Researchers from Lodz and Poznan Universities say Poland needs to update its draft GMO law. “The national current legal situation is complicated,” Prof. Tomas Twardowski told EuroBiotechNews, stressing that while trade...

PolandPoland

12.06.2011

Krakow – Polish Selvita S.A. is going public. By May, the drug discovery specialist announced it had entered into definite agreements with investors to sell 2.7 million shares for a total of EUR3.75m, resulting in a market...

PolandPoland

11.06.2011

Szczecin/Greifswald – A team of physical chemists headed by Robert Hoylst from the Polish Academy of Science have improved a method for calculating the migration time of drugs or drug delivery devices introduced into the sol/gel...

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