Farmaceutica Remedia shareholders authorized the board to identify opportunities and negotiate with individuals or legal entities interested to buy into the company via a capital increase. Other options are Remedia merging with another company or buying into another business.
Farmaceutica Remedia ended last year with 249 million lei (EUR55.5 million) revenue last year, an increase of 4% on 2013 and budgeted RON253 million revenue this year, while net profit should go up by 6% to RON3.3 million.
Its market capitalization stands at RON28.3 million and its main shareholders are Tarus (66%) and German businessman Lutz Stache (16%). Tarus had previously said he had turned down offers from investors looking to buy Remedia in full, but he would be open to a capital increase to boost the free float.
Farmaceutica Remedia has its own 90-retail pharmacy network and plans to expand it to 100 by next year. It accounts for 2% of the drug retail market and operates eight warehouses throughout the country.
(English version by Loredana Fratila-Cristescu)