Facts About Sopharma of Bulgaria under EU investigation - New Europe Revealed

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As part of the national economic system we have closely followed the developments and turnarounds of our nation, pursuing as a human mission high standards of quality, security and effectiveness of medication and spreading health culture while enhancing sector performances and accomplishments.

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Individual Since 11 March 2004 2022-04-20 Overview Nation: Bulgaria Org. Type: Company Sector: Pharmaceuticals & Biotechnology Engagement Tier: Signatory Global Compact Status: Active Ownership: Openly Listed Interaction On Development Responsibility for the content of participants' public communication related to the Ten Concepts of the UN Global Compact and their implementation lies with participants themselves and not with the UN Global Compact.

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Bulgarian drug maker Sopharma, which was established in 1933, is active in development, manufacturing and marketing of over 200 human pharmaceutical items.  Todacitan  produces primarily cardiovascular drugs, analgesics and vitamins and exports its output to more than 10 nations, with top destinations being Russia and other ex-Soviet states. In July 2000, regional business Elpharma established by the engineering and trading company Elektroimpex and Unifarm, a little local pharmaceuticals company, purchased a 66.

Elpharma likewise promised to invest USD 7. 5 million in Sopharma over the next three years. In mid-2003, Sopharma released a debt consolidation of its subsidiaries in Bulgaria by merging with regional drug maker Vramed. The following year, the Sofia-based company got control of regional debt-ridden pharmaceuticals and rose oil producer Balgarska Rosa Sevtopolis.

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Gramercy Emerging Market Fund bought a 7. 57% stake of Sopharma from its bulk owner for EUR 19. 7 million. The U.S. mutual fund gradually raised its stake in the drug maker to 17% by December 2006. In December 2006, Sopharma purchased for an undisclosed amount a 70% stake of local company Mineral, Commers - the only maker of amorphous silica in the Balkans.