Antibiotice Iasi on stand-by

The Ministry of Health, the majority shareholder in Antibiotice Iasi, has postponed a decision on the stake the drug maker holds in Pharma distribution company, Antibiotice announced. stry officials explained that Pharma’s situation would be “reconsidered depending on the changes on the market, and by focusing distribution on certain channels that include drugstore chains”. Representatives of the other shareholders (SIF Oltenia, SIF Moldova, SIF Transilvania and various individuals) said they were in favour of retaining their interest in the distribution company. They even suggested an investment programme for company development. Shareholders earlier this year endorsed a capital increase of more than 29bn ROL (700,000 euros) to support the company’s investment plan. Antibiotice’s turnover reached 15.4 million euros in the first half of the year, down 10% from the same time in 2003. ZF