VILNIUS - Lithuania's leading pharmaceutical producer, Sanitas racked up over 20 million litas (5.8 million euros) through its new share offering and is ready to purchase 100 percent of Slovakia's pharmaceutical plant Hoechst-Biotika.
Reports on the Vilnius Stock Exchange shows that Sanitas' share issue, with a face value of 2.04 million litas, was subscribed and paid up in full.
The pharmaceutical company wants to use the proceeds to buy Hoechst-Biotika from pharmaceutical giant Aventis for some 12.7 million euros.
Invalda, an investment company, controls 36.2 percent of Sanita's stock and 44.6 percent together with associated investors. The company said it wanted to increase its stake in Sanitas.
Together with Hoechst-Biotika and Altisana, a subsidiary company, Sanitas projects consolidated net earnings of 7.2 million litas on sales of over 49 million litas this year.
