EnglishThe directors of Ropharma Braşov, specializing in the distribution of drugs, will propose to shareholders, on September 1st, to do a debt for equity swap of 1.882 million lei with Ropharma Production SRL Iaşi, which is part of the same group of companies. The Ropharma group will basically increase its stake in the Moldovan company, in which already owns 99.96% of the shares.
Ropharma Braşov ended the first quarter of 2011 with a turnover of 99.96 million lei, up 15% YOY. However, the company"s profit fell slightly, from 6.09 million lei to 6.07 million lei, due to a 15.7% increase in expenses, to 94.92 million lei, whereas revenues only increased 14.5%, to 101.9 million lei.
Ropharma expects a turnover of 400 million lei this year, and a gross profit of 14.3 million lei, up 8% YOY, from 13.3 million lei.
Ropharma is controlled by Braşov businessman Mihai Miron, who owns 23.47% and 21.43%, respectively, through ADD Pharmaceuticals and Rimia Investments, registered in Cyprus. Another block of 31.31% of the shares is owned by American company Arrow Pharmaceuticals.
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