Servier/Egis Buy Polish Drugmaker

24 July 1997

Hungarian drugs producer Egis Rt and its French majority ownerLaboratoire Servier have acquired an unnamed Polish pharmaceutical manufacturer, according to MTI Econews. The name of the company will be announced after the transaction is completed, which is expected to be this month (August).

MTI says Egis will acquire a minority stake in the company, and Servier will become its majority owner. The Polish company is said to have a strong position on the Polish generics drug market, achieving sales of around $5 million last year. It was also said that some of the Polish firm's drugs will be marketed by Egis Polska and that Egis could relocate some drug production to the Polish company.

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