Biofarm increases capital

Drug maker Biofarm Bucharest is planning to increase its share capital by approximately 2.25 million euros (82bn ROL), according to the RASDAQ. The funds account for the reserves set aside from the 2004 net profits. Earlier this year the Biofarm shareholder structure underwent significant changes following a number of RASDAQ transactions. The most significant change was the reduction from 49.9% to 5.01% of the stake held by the company”s chairman of the board, Robert Ferran. At the same time US-based Health Sciences Group decreased its stake to less than 5% from 24.33% at the end of February. International Pharmaceutical Group (Saphiro Bancorp) also sold 5.5% in the drug maker bringing its share down to 15.52%. ZF