Balkanpharma Razgrad AD (Bulgaria)

Balkanpharma Razgrad AD, established in 1954, is engaged in the production of pharmaceutical products. It manufactures capsules and tablets, liquid sterile and dry injections, semi-solid forms, such as creams and ointments for topical and ophthalmic application. In June 1999, local company Balkanpharma became Bulgaria's largest pharmaceuticals group after acquiring three drug makers - Balkanpharma-Razgrad, a plant in Dupnitsa, which focuses on solid dose drugs and a drug maker from Troyan that produces liquid drugs only. The total sum of the deal was USD 24 million. In December 2000, Iceland-based generic drugs maker Pharmaco (later renamed Actavis) acquired Balkanpharma Holding, gaining control of its three plants. In July 2003, the Razgrad plant closed three of its production units since they did not comply with the EU Good Manufacturing Practices (GMP). In 2008 Iceland's Actavis Group sold the antibiotics production plant Balkanpharma Razgrad to local Antibiotic Razgrad.