Broker Cluj buys into Biofarm

Total share transactions in pharmaceuticals maker Biofarm during Friday’s session on the RASDAQ amounted to approximately 6 million euros (224bn ROL). The shares traded at 4,250 ROL. Biofarm’s main shareholder, Robert William Ferran, declined to comment on the events. One of the main buyers was the brokerage firm SSIF Broker, which is based in Cluj and which, as a result, now holds slightly less than 5% in Biofarm. SSIF Broker acquired around 400,000 euros’ worth (15bn ROL) in shares and plans to keep them for less than one year, company officials say. SIF Oltenia acquired 10% in Biofarm in January, boosting its exposure to the pharmaceuticals market. The company also owns similar stakes in two other pharmaceuticals producers listed on the stock exchange, Antibiotice and Sicomed Bucharest, in which it holds 10% and 10.2% respectively. Biofarm estimates its turnover for 2004 at 9.58 million euros (388.5bn ROL), 7% higher in euros than in 2003 (8.91 million euros or 334.8bn ROL). ZF