The largest Lithuanian pharmaceutical company “Sanitas” took over the control of purchased Slovak pharmaceutical plant “Hoechst-Biotika” today. The purchase price is LTL 43.85 mln.
“The settlement with the sellers of “Hoechst-Biotika” went smoothly and in accordance with the timeline. We have also signed production agreements with “Aventis Pharma Deutchland GmbH” and “Biotika AS”. Everything is going as we have expected so the forecasts and plans of “Sanitas” will be fulfilled”, – said “Sanitas” general director Saulius Jurgelenas.
In order to finance the purchase of the new plant “Sanitas” has successfully issued 408 941 shares (50.5 LTL each) for LTL 20.651 mln. and has also taken loans from commercial banks.
“Sanitas” estimates that the investments in “Hoechst-Biotika” will pay-off in 5-6 years.
The capacity of the modern Slovak pharmaceutical plant is bigger than “Sanitas” plant: “Hoechst-Biotika” can produce 38.5 mln. injection ampoules, 500 mln. tablets and about 122 tons of ointments per year.
It is estimated that in 2006 “Hoechst-Biotika” will fully use the capacity of injection preparations production, 50-70 percent of the tablets and 35-40 per cent of ointments production capacity. “We have already planned these volumes of production. We hope that the situation in the pharmaceutical market and our efforts to involve more distributors will allow us to exceed the plans and use the production lines of the tablets and ointments also to their maximum”, – said Mr. Jurgelenas.
During the first half of the year the non-audited net profit of the largest Lithuanian pharmaceutical company “Sanitas” amounted to LTL 2.476 mln. In June the profit of “Sanitas” was LTL 0.576 mln. The sales of half year amounted to LTL 16.3 mln.
In 2005 “Sanitas” expects that its sales will reach up to LTL 38 mln. and net profit will be aproximately LTL 6 mln. It is also expected that the consolidated sales together with “Hoechst-Biotika” and the daughter company “Altisana” will reach up to LTL 49 mln. this year.
Last year the audited net profit of “Sanitas” amounted to LTL 4.649 mln. which is 7.4 times more than in 2003 (LTL 0.625 mln.), the turnover of the company increased by 39 percent – from LTL 30.889 mln. to LTL 43.002 mln.
“Sanitas” shares are listed on the Vilnius Stock Exchange Current list. On Tuesday, July 26 the market price of “Sanitas” shares was LTL 54.50, the capitalization of the company was LTL 119.9 mln.
The largest shareholder of “Sanitas” is investment company “Invalda”.