Developments At Poland's Polfa
Polfa SA, Poland's third-largest drugmaker, has inaugurated a modernproduction line in Poznan for making drugs in pill form. According to the PAP news agency, the production line is part of a modernization project at Polfa, costing 37.9 million zlotys ($11.7 million). At the inauguration, Polish Senate Speaker Adam Struzik said that the country's pharmaceutical industry is expected to record annual turnover of $4 billion by 2005.
Meantime, it is reported that Poland's Treasury Ministry is inviting bids for at least 10% stakes in Polfa. The Ministry said up to 15% of shares in Polfa would be offered free to the firm's employees. It said 10% of the shares would be earmarked for a planned fund to meet claims for property taken under communism.
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