Sopharma to raise production at subsidiary Bulgarian Rose Sevtopolis.

By bne IntelliNews June 1, 2010
Leading Bulgarian pharmaceutical producer Sopharma announced plans to raise the production at its Kazanlak-based subsidiary Bulgarian Rose Sevtopolis over the next five years, local business daily Dnevnik reported. As a result, the revenues of the subsidiary will increase to BGN 167.5mn (EUR 85.6mn) for the period or total BGN 33.5mn annually. Bulgarian Rose Sevtopolis posted revenues in the amount of BGN 13.1mn in 2009. Company shareholders are expected to vote on Sopharma's plans. In mid-2009, Sopharma announced its intentions to merge with its subsidiaries Bulgarian Rose Sevtopolis, Unipharm and Medica.

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