Phoenix Acquires Comifar In Italy
Comifar, Italy's largest pharmaceutical distributor, is being acquired by the German group Phoenix Pharmahandel. The German group has signed a letter of intent aimed at gaining majority control of Comifar through the acquisition of stakes, totalling 52%, now in the hands of different families, including the Protti family. The remaining 48% is held by over 600 pharmacists.
The Italian firm reported a 7 billion lire ($4.4 million) net profit last year on sales of 573 billion lire.
Phoenix, which has a 30% market share in Germany and annual turnover there of 7 billion Deutschemarks ($4.9 billion), is already present in Italy through Commercio Ingrosso Medicinali, based in Perugia, and also has stakes in Societa Adriatica Medicinali based in Treviso and in Felatti Spadazzi, in Padua.
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