Pliva's Polfa changes name to avoid confusion

Polfa Krakow SA of Poland has changed its name to Pliva Krakow ZakladyFarmaceutyczne SA for economic and marketing reasons, according to the PAP news agency. The company's president, Edward Surowka, said that the Polfa name has been shared with other companies, so when the firm marketed its products it also promoted those of its competitors.

Croatian drugmaker Pliva has an 81.5% stake in the former Polfa, which will enable the erstwhile Polfa to use Pliva's extensive international trading network. Pliva Krakow is planning to launch a number of drugs, which are currently undergoing registration with the Polish Institute of Medicines, this year.

By purchasing its stake in Polfa Krakow, Pliva undertook to invest $70 million in the Polish drugs producer. Investments in 1998 were worth some $15 million. Pliva Krakow increased its workforce from 1,250 to 1,310 in 1998 and is looking to further raise its employee numbers. The average pay at the company is said to have increased by around 40% last year.