A&D Pharma to become LSE's first Romanian listing

A&D Pharma Holdings NV, the Dutch holding company which owns the largest integrated pharmaceutical wholesale and retail business in Romania, intends to make an initial public offering of its ordinary shares in the form of Global Depositary Receipts and to start trading them on the regulated market of the London Stock Exchange.

A&D owns Romania's leading wholesale pharmaceutical network Mediplus Exim SA, which offers a wide range of value-added services to pharmaceutical producers and client pharmacies. Mediplus operates a country-wide logistics system (12 warehouses in 12 cities) and distributes a portfolio of approximately 5,000 products to over 3,500 pharmacies (more than 70% of the total number of pharmacies in Romania). The retail arm of the company, Sensiblu SRL, is the largest national chain of pharmacies with more than 200 outlets across 51 towns and cities in Romania and has strong brand recognition across the country, the firm noted.

A&D and its subsidiaries' total consolidated sales were 247.3 million euros ($313.2 million) and 147.9 million euros for the 12 months ended December 31, 2005, and for the six months ended June 30, 2006, respectively. The group's sales have increased at a compound annual rate of 61% between 2003 and 2005.