A&D Pharma to absorb Bulgarian distributor

A&D Pharma, the largest domestic pharmaceutical company, could by the end of this year, could integrate Bulgarian drug distributor Arishop Pharma into its own business, a company controlled by businessmen Michel Eid, Ludovic Robert, Roger Akoury and Walid Abboud, who indirectly hold the controlling stake in A&D Pharma. The group announced as early as last year that it planned to expand its activity to countries around Romania, with five foreign markets targeted over the coming five years. Bulgarian company Arishop Pharma was first established in 1992, and, until 2001, was the exclusive distributor on the Bulgarian market for Upsa products (Upsarin, Efferalgan, Fervex). November 2004 saw Sograno BV become one of the company’s shareholders, an entity registered in the Netherlands, which controls A&D Pharma. Sograno operates a distribution network in 13 states (with operations mainly in Central and Eastern Europe). Arishop Pharma has five offices in Bulgaria (Sofia, Plovdiv, Pleven, Bourgas and Varna).