OPG To Sell Off Pharmachemie
Dutch drugs cooperative OPG is to divest its biggest generics producer,Pharmachemie, as part of its reorganization strategy. Harry Suykerbuyk, a spokesman for the company, said OPG simply had no choice, as it is intending to concentrate on just wholesaling and distribution.
Pharmachemie is a national leader in the sector, with sales of $100 million in 1996, and OPG has said that it is now looking for acquisitions and partners in Europe to create a strong international distribution network.
Industry analysts claim that companies interested in purchasing Pharmachemie include Novartis, Ratiopharm and Teva, which already has a subsidiary in the Netherlands. The divestment is expected to be completed before April, the end of the fiscal year for OPG, while two other subsidiaries, Apco and Codi, will be offered for sale at a later date.
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