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Alapis acquires Pharmalex for USD 19.5m

Greek chemical and pharmaceutical company Alapis has acquired 99.7 per cent of pharmaceutical company Pharmalex for EUR 14.3m (USD 19.5m).

Greek chemical and pharmaceutical company Alapis has acquired 99.7 per cent of pharmaceutical company Pharmalex for EUR 14.3m (USD 19.5m).

Greece-headquartered Pharmalex is not operational at the moment but previously ran production and distribution activities in the region.

The company owns production facilities of 7,500 square metres in Pallini in the Attica basin, on a land plot totalling 13,900 square metres.

According to Alapis management, the company will modernise and expand these production facilities to create a research and development laboratory, and will eventually absorb Pharmalex.

The Pharmalex purchase is the latest in a raft of buy ups across central and southern Europe. Alapis has established two companies, one in Serbia and another in Hungary, both of which will specialise in the production and trade of veterinary medicines and foods.

The Serbia-based operation is called Veterin Pharma Doo and has its headquarters in Beograd. The other company, based in Budapest, Hungary, is called Veterin Hungary. Alapis is the sole share holder in both companies.

Alapis already co-operates with Germany-headquartered Bayer on the production of veterinary drugs in Greece, Romania and Bulgaria.

13th August 2007

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