Bulgarian Rose-Sevtopolis gets shareholders' nod to merge into parent Sopharma Pharmaceuticals company Bulgarian Rose-Sevtopolis has received shareholders' approval to merge into its parent company, drug producer Sopharma. The two companies signed a deal on June 19 under which Bulgarian Rose-Sevtopolis will merge with Sopharma and will be wound up without liquidation. The company's assets will be transferred to Sopharma after the merger completes. Bulgarian Rose-Sevtopolis' shareholders also gave their approval for the increase of Sopharma's capital to BGN 134.8 million from BGN 132 million in relation to the merger deal. The drug manufacturer will issue 2,798,527 shares with a par value of BGN 1.0 and an issue price of BGN 4.14 apiece, which will be distributed among the shareholders of Bulgarian Rose-Sevtopolis. The changes were voted on at an extraordinary meeting held on January 9. Also on January 9, Sopharma received the green light from its shareholders for the merger deal and the capital hike. In November last year, the financial regulator gave the green light for the merger. Sopharma held a 49.99% stake in Bulgarian Rose-Sevtopolis as of September 31. The Bulgarian unit of Romanian pharmaceutical company Rompharm, which held 18.42% in Sopharma as at September 31, also controlled 20.22% in Bulgarian Rose-Sevtopolis at the end of September.
Source: profit.bg (13.01.2015)

Bulgaria's Sopharma Trading sets up franchise unit Bulgarian drug distributor Sopharma Trading has launched a franchise and consultancy unit, Sopharmacy. The new company, which was registered on January 19, has an initial capital of BGN 5,000. Sofia-based Sopharmacy is 100%-owned by Sopharma Trading. Sopharma Trading is a unit of Bulgarian drug producer Sopharma.
Source: investor.bg (16.02.2015)

Bulgarian competition regulator clears drug maker Sopharma to take over Medica The Bulgarian competition regulator said it has given the green light to drug maker Sopharma to take full control over peer Medica. Sopharma's mid-term plans include a possible absorption of its peer within the next three or five years. The deal aims to increase both companies' competitiveness on Bulgaria's drug market, as well as to streamline their operations and boost their efficiency. For the time being Sopharma does not intend to rename Medica. It will, though, add Sopharma-branded products to its portfolio. Earlier this month Sopharma raised its stake in Medica to 30.42% after it acquired 605,000 new shares, equal to 6% of the company. Last month, Sopharma said it completed the absorption of another of its units, Bulgarian Rose - Sevtopolis, and the increase of its capital to BGN 134.8 million from BGN 132 million through a share issue.
Source: Capital (18.03.2015)

Three cos change share participation in Bulgaria's Sopharma Three Bulgarian companies have changed their share participation in Bulgarian drug maker Sopharma due to the capital increase of Sopharma following its merger with Bulgarian Rose Sevtopolis, Sopharma said. The share participation in Sopharma of Donev Investments Holding decreased from 25.26% to 24.74%, the share participation of Telecomplect Invest decreased from 20.41% to 19.99%, while the share participation of Telso increased from 4.98% to 5.29%, Sopharma said in a bourse filing. The date of registration of the transaction in Bulgaria's central depository is March 6.
Source: money.bg (20.03.2015)

Bulgarian drug maker Sopharma launches buyout bid for Momina Krepost Bulgarian drug maker Sopharma has made a buyout offer for medical products maker Momina Krepost. Sopharma offers to pay BGN 3.4 for each share in the company it does not yet own, Momina Krepost said in a bourse filing. Local brokerage Elana Trading has been chosen as the investment intermediary for the buyout. The acquisition currently awaits approval from the financial regulator. Earlier this month, Sopharma increased its stake in Momina Krepost to 80.09% after it acquired 458,250 new shares in it. Also then, local companies Hydroizomat and Doverie Capital said they sold their stakes in Momina Krepost of 10.14%, or 171,488 shares, and 5.07%, or 85,770 shares, respectively. Momina Krepost's capital consists of 1,691,184 shares with a par value of BGN 1 apiece. Last month, Sopharma said it had completed the absorption of its units Bulgarian Rose - Sevtopolis, and the increase of its capital to BGN 134.8 million from BGN 132 million through a share issue.
Source: Capital (26.03.2015)

BSE’s market capitalization has dropped by BGN 270 million Overall market capitalization of companies, traded on the Bulgarian stock exchange has decreased in the first quarter of the year by 3.55% to BGN 7.38 billion. This means that slightly over BGN 270 million disappeared from the market. In the end of last year several changes in the law for pension funds were adopted in a hurry. In addition in February a decision was made to impose sanction on companies that invest in agricultural land and have shareholders registered beyond the EU. As a result just in February BSE’s turnover shrunk by 75%. All this reflect on indices, too. Although there is some stir up in the last few weeks for the first three months of the year SOFIX has gone down by 1.53%. BGTR30 has increased by 1.65%. Sopharma is the company with the biggest market capitalization of almost BGN 450 million, followed by Bulgartabac holding with BGN 331 million and Monbat with BGN 323 million. Chimimport is the company that registered most deals, while Advance terrafund has the largest turnover by trade.
Source: Capital (08.04.2015)

Chaikapharm makes new attempt to become a public company Commission for financial supervision approved of prospectus for Chaikapharm quality drugs’ public offering. The company plans to register on the Bulgarian stock exchange (BSE) 43.5 million shares, as much as the company’s share capital. Secondary offering is what all is about, as price for share will be BGN 3.59. Share launched by old shareholders will be defined in relation to investors’ interest. With this price per share the company’s market capitalization will be BGN 156 million. It’s the second attempt of Chaikapharm to become public. Commission for financial supervision approved prospectus for secondary offering of shares in February 2007. Back then the company acted slowly. Raise of capital was planned with equity capital which postponed listing on the BSE. Chaikapharm is one of medium-sized pharmaceutical manufacturers in Bulgaria. It is founded in 1999 by Tony Vekov and Tihomir Kamenov who invested in a plant for pharmaceuticals in Varna. In 2005 the company’s second factory in Plovdiv was opened, where BGN 15 million is invested. At present several pharmaceutical companies are public: Sopharma, Medica, Momina krepost, etc.
Source: Capital (23.04.2015)

Deal for Tokuda bank came into CPC The deal for Tokuda bank reached the antimonopoly authority, which is one of the two key institutions from which its completion is dependable. If the Commission for protection of competition and Bulgarian National Bank clear the deal, the bank will become part of Doverie’s group of companies. The latter is controlled by Sopharma’ owner Ognqn Donev and close to him companies. Preliminary contract for acquisition of majority stakes in Tokuda bank from its present Japanese owner was struck back in March. In the meantime changes were made in Industrial holding Doverie so that regulator’s requirements are met. The company’s capital was increased. If the deal is given the green light, it will be the first after the shock in the banking sector that was caused by Corporate commercial bank’s bankruptcy. The term in which the anti-monopoly authority has to decide is one month. Industrial holding Bulgaria is engaged in takeover, management and sale of stakes in companies and funding of activity of all enterprises that belong to the group. Among them are Hydroisomat, Bilqna trico, Maricateks and Bulgarian wine.
Source: Capital (18.05.2015)

Sopharma sold 75% of its shares in Extab Corporation and now holds just 5% of the company. The name of the buyer is not disclosed. The registered in the US state Delaware company has a license for sale of the original Bulgarian medicine for giving up smoking under the name of Tabex in the USA, Mexico, UK, China, Australia, etc. The very Extab Corporation is founded in 2009 with the aim to succeed in proving the medicine’s efficiency before the most stringent drug agency in the world - the Food and Drug Administration of the USA (FDA). After the change Extab will not produce the drug by itself, it will be still produced in Bulgaria. Besides, Sophàrma continues to hold rights for its sale on traditional markets such as Bulgaria and 15 more European countries. Tabex is an original Bulgarian product of herbal origin. Its active ingredient cytosine is extracted from the colors of the yellow acacia. It has been produced since 1964.
Source: Capital (22.05.2015)

Sopharma sold 75% of Extab Corporation Sopharma sold 75% of its shares in Extab Corporation and now holds just 5% of the company. The name of the buyer is not disclosed. The registered in the US state Delaware company has a license for sale of the original Bulgarian medicine for giving up smoking under the name of Tabex in the USA, Mexico, UK, China, Australia, etc. The very Extab Corporation is founded in 2009 with the aim to succeed in proving the medicine’s efficiency before the most stringent drug agency in the world - the Food and Drug Administration of the USA (FDA). After the change Extab will not produce the drug by itself, it will be still produced in Bulgaria. Besides, Sopahrma continues to hold rights for its sale on traditional markets such as Bulgaria and 15 more European countries. Tabex is an original Bulgarian product of herbal origin. Its active ingredient cytosine is extracted from the colors of the yellow acacia. It has been produced since 1964.
Source: Capital (25.05.2015)

Sopharma transfers marketing of 35 drugs to its wholesale merchant Bulgarian pharmaceutical company Sopharma transferred its team of 14 experts in marketing of pharmaceuticals over the counter (OTC) to the company for wholesale trade in the group called Sopharma trading. The aim is achievement of synergy, optimization of goods’ management at the internal market and improvement of invested funds’ efficiency. Sopharma produces a total of 35 types of drugs without recipe, among which are the best sold in terms of number of packages pharmaceutical in the country. Soparhma trading on the other hand is dealer of drugs with the largest turnover in 2014 of a total of 304 distributors of meds, registered in Bulgaria. The company for wholesale trade distributes all registered in Bulgaria drugs with prescription as well as those OTC that are generally 4000. Sopharma is the third in market share in value on this market after the divisions of OTC Novartis and Actavis.
Source: Capital (16.06.2015)

Bulgarian drug maker Sopharma said that it has increased its stake in medical products maker Momina Krepost to 92.62% following a buyout. Thirty shareholders accepted the buyout, as a result of which Sopharma acquired a total of 221,991 Momina Krepost shares, Sopharma said in a bourse filing. Momina Krepost's capital consists of 1,691,184 shares with a par value of BGN 1 a piece. In March, Sopharma increased its stake in Momina Krepost to 80.09% after it acquired 458,250 company shares in a buyout. A general shareholders' meeting, held on June 4, voted to cover the company’s 2014 loss of BGN 108,000 with funds from undistributed profit.
Source: money.bg (10.07.2015)

Bulgarian drug maker Sopharma raises stake in Medica to 36.10% Bulgarian drug maker Sopharma said on Monday it raised its stake in peer Medica to 36.10% as part of plans for the possible absorption of the company over the next three to five years. Sopharma acquired 240,000 new shares, equal to 2.4%, in Medica, the company said in a bourse filing. The value of the deal was not disclosed. In March, Sopharma obtained the competition regulator's approval to take over Medica. At the time, the regulator said Sopharma's mid-term plans include a possible absorption of Medica within the next three or five years. Earlier this month, Sopharma said it has increased its stake in another medical products maker, Momina Krepost, to 92.62% following a buyout.
Source: profit.bg (21.07.2015)

Businessman Ognqn Donev goes to court for unpaid taxes to the amount of BGN 62 779 million, as well as for seven deals with shares of a company controlled by him. Sopharma’s boss is charged that as a CEO of Elpharma AD in 2007 escaped establishment and payment of tax liabilities of the company amounted to BGN 62,779,725. The second charge against him is that in Sopharma’s annual tax return, deposited in NRA increase of the annual financial result of the company to the total amount of BGN 418 million has not been declared. Seven deals with shares of Sopharma, concluded between 17th of April 2006 to the 16th of May 2006 have also been described. Sopharma was selling a package of securities of the following companies: Telso AD, Telecomplect AD, Sofstroy AD and Sofia AD at BGN 1 per share. As CEO of Sopharma Donev has not increased the financial result after these transactions, thereby saved tax profit of a total of BGN 418 million. Together with him businessman Boris Borisov is also charged for deals with shares of Sopharma on the OTC
Source: 24 chasa (31.07.2015)

Tokuda bank’s sale before failure due to Prosecution Procedure for inspection of papers for sale of 99.53% of Tokuda bank’s capital will be extended with three more months. This is direct result of BNB’s request the pretender Doverie-Industrial Holding to present additional information. Doverie-Industrial Holding is owned by Doverie - United Holding, the largest shares of whose shares are ownership of controlled by Ognqn Donev companies Sopharma, Elpharma and Telso. Information for the negotiations with the owner of Tokuda Bank- Japanese company Tokushukai Medical Corporation became clear in March 2015. On the 29th of May announcement appeared that a preliminary contract for sale was signed. Situation got even more complex after the prosecution charged Ognqn Donev for tax evasion amounting to BGN 62.8 million.
Source: Class (17.08.2015)

Bulgaria's Sopharma Trading Jan-Aug pre-tax profit grows 11% Bulgarian drug distributor Sopharma Trading said on Wednesday its pre-tax profit rose by 11% to BGN 10 million in the January-August period. Sales revenues grew to BGN 391 million the first eight months of the year up by 3.0% on the year, Sopharma Trading said in a bourse filing. In August alone, Sopharma Trading's sales totalled BGN 48.7 million. Sopharma Trading is a unit of Bulgarian drug producer Sopharma.
Source: Capital (24.09.2015)

Merger of Sopharma and Momina Krepost bounded with a contract Sopharma and Momina Krepost AD signed an agreement for the merger of the Veliko Tarnovo-based company in the pharmaceutical company. Agreement was agreed on September 30, 2015. Pursuant to the Public Offering of Securities, the merger contract, as well as the reports of company boards and the confidentiality made under provisions of the Trade Act have been send to the Financial Supervision Commission (FSC). They are subject to approval by the Deputy Chairperson in charge of "Investment Supervision". FSC should consider the ratio at which each shareholder of Momina Krepost will acquire securities in the capital of Sopharma. The entire property of Momina Krepost will go to Sopharma as the pharmaceutical company will become its successor. Veliko Tarnovo-based company will be terminated without liquidation. According to the signed contract, shares of Sopharma will be distributed to the shareholders of Momina Krepost. Sopharma shareholder will not participate in the distribution. Furthermore, the pharmaceutical company will increase its capital by issuing new ordinary shares. For each share of Momina Krepost each shareholder will acquire 0.655675 shares of the capital of Sopharma.
Source: investor.bg (09.10.2015)

Bulgaria's Sopharma Trading 9-mo pre-tax profit rises 19% Bulgarian drug distributor Sopharma Trading said on Monday its pre-tax profit rose by 19% to BGN 11.8 million in the January-September period. Nine-month revenues grew by 5.0% to BGN 449.3 million, Sopharma Trading said in a bourse filing. In September alone the company's pre-tax profit doubled to 1.8 million levs compared to the same month last year. Sopharma Trading is a unit of Bulgarian drug producer Sopharma . The company's shares closed flat at 5.050 levs on the Bulgarian Stock Exchange on Monday with 14 shares changing hands.
Source: investor.bg (20.10.2015)

Bulgaria's Doverie Capital sells 30.59% of Medica Bulgarian company Doverie Capital has sold a total of 3.08 million shares of local medical products maker Medica, equal to a 30.59% stake in the company, its parent company Doverie United Holding said on Friday. After the deal, Doverie Capital's stake in Medica fell to 29.61%, Doverie United Holding said in a filing to the Sofia bourse. In March, Bulgarian drug maker Sopharma obtained the competition regulator's approval to take over Medica. At the time, the regulator said Sopharma's mid-term plans include a possible absorption of Medica within the next three or five years. In July, Sopharma said it has raised its stake in Medica to 36.10%. Medica's shares last closed at BGN 3.500 per share on the alternative BaSE market on the Bulgarian Stock Exchange.
Source: investor.bg (26.10.2015)

Bulgarian drug maker Sopharma raises stake in Medica to 66.72% Bulgarian drug maker Sopharma said on Monday it raised its stake in medical products maker Medica to 66.72%. On October 22, Sopharma acquired 3.08 million Medica shares, the company said on Monday in a bourse filing. The value of the deal was not disclosed. On Friday Doverie United Holding said its unit Doverie Capital sold 3.08 million Medica shares, equal to a 30.59% stake in the company. After the deal, Doverie Capital's stake in Medica fell to 29.61%. In March, Sopharma obtained the competition regulator's approval to take over Medica. At the time, the regulator said Sopharma's mid-term plans include a possible absorption of Medica within the next three or five years.
Source: investor.bg (27.10.2015)

Bulgarian drug maker Sopharma Jan-Oct sales revenue falls 16% Bulgarian drug maker Sopharma said its sales revenue dropped by an annual 16% in the ten months through October. Domestic sales increased by 2% year-on-year in the nine-month period, while exports fell by 25%, the company said on Friday in a bourse filing. In October alone, Sopharma's sales remained flat compared to the same month last year as exports fell 2% and domestic sales added 2%.
Source: investor.bg (09.11.2015)

Bulgarian drug maker Sopharma 11-mo sales revenue falls 15% Bulgarian drug maker Sopharma said on Friday its sales revenue fell by 15% through November due to a drop in export sales. Domestic sales increased by 2% year-on-year in the eleven-month period, while exports fell by 23%, the company said in a bourse filing. In November alone, Sopharma's sales fell 5% compared to the same month last year as exports fell 3% and domestic sales added 23%.
Source: investor.bg (07.12.2015)

The turnover on BSE decreased by 65% yoy in November Turnover on BSE decreased by 65% yoy to BGN 18.7 million in November 2015. Turnover for the last 12 months was BGN 363.8 million, decreasing by 63% yoy. Since the beginning of this year it amounted to BGN 331 million and was constituted basically in January with BGN 106 million. The weakest month was August with BGN 9.5 million. The largest turnover was accomplished with securities of Sirma Group Holding, or BGN 5.7 million in November. Remarkable results have Chimimport AD (ordinary shares) with BGN 1.18 million, Chimimport AD (preferred shares) with BGN 481 thousand, Advance Terrafund with BGN 1.05 million, Real Estate Fund Bulgaria REIT with BGN 808 thousand, Sopharma AD with BGN 747 thousand registered compensatory bills with BGN 497 thousand, CCB with BGN 328 thousand compensatory records with BGN 156 thousand and FairPlay Properties REIT with BGN 124 thousand. This totals BGN 11.5 million.
Source: investor.bg (11.12.2015)

Bulgaria's Sopharma Trading Jan-Nov pre-tax profit grows 14% Bulgarian drug distributor Sopharma Trading said on Monday its pre-tax profit rose by 14% to BGN 13.7 million in the January-November period. Sales revenues grew to BGN 552.3 million in the January-November period, Sopharma Trading said in a bourse filing. In November alone, Sopharma Trading's sales totalled BGN 50.6 million. Pre-tax profit in November reached BGN 1.28 million up by 23% year on year. Sopharma Trading is a unit of Bulgarian drug producer Sopharma
Source: investor.bg (22.12.2015)