Polpharma bids for Bioton
Warsaw – Polish pharmaceutical firm Polpharma has sought approval for its acquisition of parts of Polish blue-chip Bioton S.A. Polpharma made the bid on the last day of 2009. The case is pending. In November 2009, Bioton signed a letter of intent with Polpharma, under which Polpharma may merge with Bioton or buy some of its assets. By December 15th, the companies were to set up a feasibility study of the merger, with details to be prepared by the end of February. The companies will also seek for Polpharma to take over Bioton’s antibiotics production business, and possibly its shares in Italian units. Agreements to this effect are expected by the end of February. Neither company has in the interim given any details on the progress of the deal.