Romanian Drugmaker Parent Reduces Shareholding

The parent company of Romanian drugmaker Sicomed, Venoma Holdings, has further reduced its interest in the company to 51%. The disposal of the 5% stake, reportedly worth some ROL136bn (US$4.7mn), followed the sale last week of a 2.4% stake.

Sicomed is currently Romania's largest drugmaker by sales volume, with a market share estimated at roughly 27%. The company has recently forecast that the value of the country's drug market will more than double to EUR2.2bn in 2007, as the local sector continues to modernise ahead of the country's expected EU accession.