Initiation of negotiations for potential acquisition of Pharmanova, Republic of Serbia

Sofia, Bulgaria, July 14, 2023 – According to the requirements of art. 100t of LPOS, “Sopharma” AD notifies that in implementation of a decision of the Board of Directors after a detailed analysis and negotiations, "Sopharma" AD signed a contract for the phased acquisition of the Serbian pharmaceutical manufacturer Pharmanova within two years. The deal is subject to approval by the Serbian Competition Commission and will start with the acquisition of 25% of the Company, followed by the acquisition of 50% after one year and 25% after two years, respectively.

Pharmanova sells its products with leading consumer brands in the markets of Serbia, Bosnia, Montenegro and Macedonia. For 2022, the company's net sales revenues amount to ТEUR 10 225.