GlaxoSmithKline can buy Veropharm from 36,6
2007-07-05
GlaxoSmithKline, a leading global pharmaceutical manufacturer, is possibly interested in buying 36,6’s stake in Veropharm, a pharmaceutical producer. Neither company would confirm negotiating the deal; but unofficial sources report that Troyka Dialog is advising the parties on the acquisition.
GlaxoSmithKline may be interested in the producer not only as a way to increase its market share but also because of preferences local producers are likely to have for various state social programs on medicine provision. For 36,6, selling Veropharm can be helpful as a means to cope with the current debt, which amounts to €195m. At the same time, Veropharm is the only driver of positive EBITDA for 36,6 since the company’s retail business is in losses due to the fast growth.