Sopharma Trading plans to diversify its business model and expand its market shares, the company’s CEO Dimitar Dimitrov announced in an interview in Bulgarian media Investor.bg. Dimitrov said that Sopharma Trading’s investment in Serbian peer Lekovit would set Sopharma’s ground for further strategic expansion in the country. Additionally, Sopharma envisions new acquisitions in the Balkan region.
The CEO disclosed forecasts for double growth of turnover and tripling of net income in the next three years. The targets are to be reached through a consolidation strategy in Serbia and growth in its market share in the region. Furthermore, the company will continue the development of its retail pharmacy brand SOpharmacy, aimed at providing a wider range of health services to its clients, on both the domestic market and abroad.
2017 – focus on expansion
Back in November 2017 the Commission for Protection of Competition in Bulgaria approved Sopharma Tradings acquisition of the local PharmaStore harmacies chain. The Regulator’s decision cáme after the company announced in March that it has reached the agreement for the acquisition of PharmaStore pharmacies operations (19 pharmacies in Bulgaria), with the intention of subsequently integrating them into the SOpharmacy chain.
Also in July 2017, the Commission for Protection of Competition in Serbia approved Sopharma Trading to acquire the majority shares of Lekovit company – the fastest growing pharmaceutical wholesaler in Serbia in the last 3 years. The Regulator’s decision came a few weeks after the two companies announced their partnership intentions.Under the arrangements the current shareholder in Lekovit, Dr. Dragan Petrovic, keeps the minority shares and will continue contributing to the further development of the company on the CEO position.
In the beginning of 2017 Sopharma Trading shareholders approved new debt financing from various banks for a total of approx. BGN 54m to be used for acquisitions in Bulgaria and Serbia.