Poland's Polpharma Up For Sale Again
Polish pharmaceutical company Polpharma is up for sale again as thecountry's government has announced plans for its privatization. Previous attempts to sell the firm have foundered and there seems little interest in it now, according to the Warsaw Business Journal. Polpharma's turnover in 1997 was 462.2 million zloty ($128.4 million) with net profits of 46.8 million zloty.
A report in the journal quotes Adam Grabowski, a public relations adviser with Bayer, as saying that the Germany-based group will pass on the chance to purchase Polpharma, though it is constantly researching the possibilities of capital investment in the country. Enterprise Investors, a US fund, is also thought to have pulled out of a deal, having offered $100 million for the firm, which was rejected by the Polish government.
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