Pharmaceutical Firm Actavis Sells Major Bulgarian Distributor

Industry | March 8, 2010, Monday // 16:13|  views

Former "Balkanpharma" Factory Upgrade

International pharmaceutical company Actavis Group has announced it will sell its major Bulgarian distributor Higia Jsc.

Higia Jsc, one of the largest distributors of pharmaceuticals in Bulgaria, was acquired by the Actavis Group in 2005. Higia has been sold to a private investor for an undisclosed amount.

“We chose the best offer not only for “Actavis” but for the employees of “Higia” and for the future development of the company within the local distributors' market,” commented Illiya Pashov, executive director of “Actavis” Ltd Bulgaria.

“Actavis” Ltd Bulgaria explains its decision to sell “Higia” with a development strategy to focus on its main business-the development, production and sale of high-quality generic medications.

Illiya Pashov assured that “Actavis” will continue to work with “Higia” and with other Bulgarian pharmaceutical distributors.

Actavis Group, which is headquartered in Iceland, took over the biggest Bulgarian pharmaceutical company from communist times “Balkanpharma.”

With two modernized manufacturing sites in the towns of Dupnitsa and Troyan, the company sells 40% of its production in Bulgaria. The rest traditionally goes to Russia and other former USSR countries such as Ukraine and Belarus.

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Tags: Actavis, Balkanpharma, Higia, pharmaceuticals, distributor


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