Sopharma AD (Bulgaria)

Bulgarian drug maker Sopharma, which was established in 1933, is active in development, manufacturing and marketing of over 200 human pharmaceutical products.
The company produces mostly cardiovascular drugs, analgesics and vitamins and exports its output to more than 10 countries, with top destinations being Russia and other ex-Soviet states.
In July 2000, local company Elpharma set up by the engineering and trading firm Elektroimpex and Unifarm, a small local pharmaceuticals company, bought a 66.94% stake in Sopharma for USD 24 million. Elpharma also pledged to invest USD 7.5 million in Sopharma over the next three years. In mid-2003, Sopharma launched a consolidation of its subsidiaries in Bulgaria by merging with local drug maker Vramed.
The following year, the Sofia-based firm acquired control of local debt-ridden pharmaceuticals and rose oil producer Balgarska Rosa Sevtopolis.
In January 2006, U.S. Gramercy Emerging Market Fund bought a 7.57% stake of Sopharma from its majority owner for EUR 19.7 million. The U.S. investment fund gradually raised its stake in the drug maker to 17% by December 2006.
In December 2006, Sopharma bought for an undisclosed sum a 70% stake of local firm MineralCommers - the only manufacturer of amorphous silica in the Balkans.
In October 2007 Sopharma bought 108,500 shares, or less than 1.0 pct, from the IPO of Latvian peer Olainfarm in a bid to expand its presence on the Baltic market. The acquisition was part of the company’s plans to list on the Warsaw bourse by February 2008 and thus become the first Bulgarian firm to be listed on two stock exchanges. Also in October, Sopharma also bought 4.72% in Momina Krepost, raising its stake in the disposable medical supplies maker to 42.26%.
In November 2007, the blue-chip drug maker bought some 74% in Ukranian pharmaceutical producer Vitamini for an undisclosed sum.
In March 2008, Sopharma received approval from the Serbian anti-trust body to take control of Belgrade-based pharmaceutical firm Ivancic and Sons for an undisclosed sum.
In December 2009, Sopharma acquired a 51% stake in Latvian pharmaceutical wholesaler Briz at the amount of EUR 2.25 million.
The Sopharma group operates 14 pharmaceutical plants in Bulgaria, one in Ukraine and two in Serbia as of end-2012.