Germany's Fresenius to buy Polfa Kutno

State-controlled Polish drugmaker Polfa Kutno SA is to be sold to theGerman-owned dialysis and medical products group Fresenius by January 2001, according to the Polfa management board. Financial terms were not disclosed.

For 1999, Polfa Kutno achieved sales revenues of 212.8 million zlotys ($48.4 million), an increase of 16.2% on the previous year, figures from IMS Poland show. The company is said to produce 75 types of products, among which are multivitamins and vitamin preparations for children, and drugs for the treatment of central nervous system, osteoporosis, gastrointestinal and diabetic disorders.

For its part, Fresenius reported sales of $3.84 billion for 1999, a rise of 10%, with net profits jumping 30% to $170 million. For the first quarter of this year, sales increased 9% on the like, year-earlier period to reach $1 billion, while pretax earnings rose 13% to $145.5 million.