Sofia District Court registered the following change for Sopharma JSC: denominated the company's capital from BGL 942 717 000 down to BGN 942 717 distributed in 942 717 ordinary shares with face value of BGN 1.
Source: State Gazette (25.01.2000)

Last year foreign investments in Bulgarian capital market were USD 67.1 million, according to the annual report of Securities and Stock Exchanges Commission (SSEC). In 1997 and 1998 investments were USD 29.7 million and USD 64.2 million. The turnover on the stock exchange went down by 75 per cent as compared to 1998. Top 10 most traded companies are: Electroimpex JSC, Hydroelementi JSC, Bulgartabac JSC, Neftochim JSC, Toplivo JSC, Sofiaplast JSC, Solvay - Sodi JSC, Petrol Holding Group JSC, Sopharma JSC, and Blagoevgrad - BT JSC.
Source: Standart (10.02.2000)

If the Direction of PA does not cooperate wth Peter Zhotev, he will insist on the privatization of Sopharma to be transferred on the side of the Ministry of Economy and under its control. The deal for 67 per cent from Sophfarma for the price of USD 32 million with a buyer New technology was approved of the Supervisory Board last year but because of delay of the payment in December last year, PA decided to quit the deal. To this question Mr. Zhotev intends to look for a cooperation from the Parlament's Economy Commission.
Source: Standart (24.04.2000)

Balkanpharma Holding possesses 12.7 per cent of the Bulgarian market for medicines that are own production.
Source: BTA (05.05.2000)

Representors of New technology and PA decided to hold a meeting for the sale of Sopharma JSC. If the unilateral ceased deal could not be restored for thye sale of 67 per cent of Sopharma JSC to New technology, it is possible Sopharma to be included in the mass privatization and the deal to transfer from PA to the Ministry of Economy.
Source: Pari (10.05.2000)

We demand the court to order the execution of the privatization contract for the purchase of 67 per cent of the capital of Sopharma JSC - Sofia, the Executive Director of New Technology Mr. Ancho Badev reported. New Technology has been selected by PA for a buyer of Sopharma JSC but could not pay the privatization price in the amount of USD 32 million on time and PA broke the privatization contract. According to the New Technology representatives the buyer did not pay the price because the former Minister of Industry Alexander Bozhkov with his order dated on December 15, 2000 made changes with the assets of Sopharma JSC. The current privatization legislation does not allow to be done any changes with the company’s assets which are in a privatization procedure without the permission of the buyer.
Source: Sega (18.05.2000)

At a regular Meeting, the Government included in the list for cash privatization 4 companies. These are Sopharma JSC - Sofia, Borosport JSC, St. K and E sea resort - Varna and Orbita JSC - Sofia, was reported from the press office of the Ministry of Economy. A decision for the privatization procedure of Sopharma JSC has to take PA. The deadline for the attendance of the offers expires in the end of the week.
Source: BTA (19.05.2000)

PA set new requires to the potential buyers of Sopharma. This is due to the decision of the Government for cash privatization of the company. One of the conditions is 30 per cent of the sale price of the pharmaceutical company is to be paid in cash on the day of the sign of the contract. The rest 70 per cent have to be paid in the period of 45 days after the sale. 631 073 shares or 67 per cent of Sopharma are declared for privatization.
Source: Pari (22.05.2000)

The price of the privatization deal for the sale of Sopharma JSC may reach USD 10-12 million, stated the Executive Director of Balkanpharma JSC. In the privatization memorandum PA insists on a minimum price of USD 23.8 million. Balkanpharma JSC is one of the buyers of 67 per cent of the shares of Sopharma. The other known candidates are MEBO Sopharma 2000 and not registered in Bulgaria Mibo AG. 15 information memoranda are submitted to the deadline for the offers.
Source: Trud (02.06.2000)

PA rejected two of the potential buyers for the privatization of 67 per cent of Sopharma JSC - Sofia - New technology, Dublin and Unitek, Sofia, was reported from the Agency. The disclassification of the companies is because of not abiding the requirements from the Rules for negotiations with potential buyers and because they did not apply to their offers original documents for paid in deposit in the account of PA in amount of USD 1 million, for this was a requirement to all participants in the negotiations, was explained from PA. The documents of two other potential buyers Balkanpharma Holding, Sofia and Elpharma, Sofia are adopted by PA for regular.
Source: Standart (14.06.2000)

Elfarma JSC-Sofia is the selected exclusive buyer by PA, with which the Agency will negotiate for the sale of 67 per cent of Sopharma. Elfarma has a deadline of 30 days for finishing the negotiations. The competitor of the buyer was Balkanpharma Holding after New technology and Unitek were disqualified. The offer of Elpharma fits all the requirements and the price exceeds considerably this, offered by Balkanpharma Holding. Also Elpharma offered investments at higher amount than the recommended number of investments, pointed in the evaluation. The price of the deal has to be paid entirely in cash since the company was included in the cash privatization.
Source: 24 chasa (16.06.2000)

The main shareholders of Balkanpharma JSC Deutsche bank and Ikon fund expressed their surprise and disappointment in a statement that they are not preferred buyer for 67 per cent of the shares of Sopharma JSC. PA defined for exclusive buyer the company Elpharma that offered a price higher with USD 8 million. The main objection is that they were not invited for negotiations. Balkanpharma Holding included in its offer two offerings for additional payments, connected the profits of Sopharma with the incomes of the State of this deal. The summary effect of these options amounts to USD 8.35 million.
Source: Sega (19.06.2000)

The pharmaceutical company Unifarm JSC that is chosen for a buyer of Sopharma JSC in consortium with Electroimpex opened a new work-shop for production of medicines, stated the Executive Director of the company. In the new duties are invested USD 2 million. The capacity of the new work-shop in the Sofia district Durvenitza will be about 200 million pills annually.
Source: Standart (26.06.2000)

30 per cent of the net profit of Sopharma JSC for 1999 will be allocated as a dividend among the shareholders. Only shareholders who acquired shares to July 6 will have the right for receiving a dividend. The dividend per share is BGN 3.64. The profit of the pharmaceutical company for the last year is BGN 11.45. 10 per cent of the profit will be allocated for the Reserve fund and 60 per cent will be reinvested. The profit of Sopharma JSC dropped in comparison with the last year when it was BGN 23.49 million. PA selected the company Elpharma for exclusive buyer of 67 per cent of Sopharma JSC.
Source: Standart (03.07.2000)

PA cancelled the regarding of the contract for the sale of 67 per cent of Sopharma JSC. On July 21 on a General Meeting the Chairman of the Supervisory Board Mr. Asen Diulgerov announced that they received the papers on the deal in the last minute and were not able to get introduced to them. This was the last General Meeting of the supervisors of PA for this season. Thus the discussing of the sale of Sopharma JSC will probably be cancelled for September. In the middle of last month PA chose for a buyer of Sopharma JSC Elpharma JSC - Sofia, which offered a price of USD 32 million for the major stake. A competitor of the preferred buyer was Balkanpharma Holding.
Source: Pari (24.07.2000)

On July 27 the Supervisory Board of PA approved the contract for the sale of 66.94 per cent of the shares of the biggest medicine-producing company Sopharma of Elpharma JSC - Sofia. The buyer will pay the whole price amounting to USD 24 million for the major share in the company in cash, using a loan from Bulbank JSC. It undertakes to invest in Sopharma USD 7.5 million during the next 3 years.
Source: Democracy (28.07.2000)

The consortium Elpharma bought 66.94 per cent of the Sofia-based drug plant Sopharma for USD 24 million. The deal was officially endorsed on July 31 but the contract was signed on July 27. Sopharma is in the list for aim privatization, which is the reason why the price could only be paid in cash. The Executive Director of Elpharma Mr. Ognian Donev announced after the signing of the deal that the company expects to receive eurocertificate GMP and to double the amount of the plant’s production by April 2002. Unipharma and Electroimpex also participate in the consortium.
Source: Sega (01.08.2000)

The turnover of BSE-Sofia reached BGN 138 602. From it 91.6 per cent are due to 2 block deals with 126 984 shares with a face value per BGN 1 to AKB Corporation.
Source: Pari (10.08.2000)

PA announced the following deals were concluded in July 2000: Main sales: Sopharma JSC – Sofia – 66.94 per cent from the capital sold to Elpharma JSC Sofia, established from Unipharm JSC and Electroimpex JSC, for USD 24 000 000.
Source: State Gazette (29.08.2000)

On September 28 took place an Extraordinary Meeting of Sopharma otherwise appointed for September 19. The reason for the postponement was that the privatized 3 months ago 67 per cent from the capital of the pharmaceutical plant were transferred to the new owner Elpharma on September 12. According to the Public Offering of Securities Law, the new owner would not have had the right to vote if the General Meeting had not been postponed. The shareholders of Sopharma discussed changes in the statute and Management of the company. The new members of the board of directors are Elpharma’s CEO Mr. Ognyan Donev, Unipharm, as a legal entitiy, represented by Mr. Ognyan Palaveev, as well as Mr. Kiril Kalinov and Ms. Vesela Stoeva from Bulbank, the CEO of Electroimpex Mr. Borislav Dionisiev and Mr. Alexander Todorov. Mr. Borislav Dionisiev will act as deputy chair of the board of directors.
Source: Banker (02.10.2000)

The businessmen who accompanied the Mayor of Sofia Mr. Stefan Sofianski in Aman, reached concrete agreements for joint activities with companies from Jordania. Sopharma JSC will be the first company that officially will import cosmetic products with ingredients from Dead Sea. Jordanian companies want to become distributors of a part of the products produced in Sopharma.
Source: Pari (30.10.2000)

Sofia City Court registered the following changes for Sofarma - JSC: the members of the Board of Directors Ms. Anna Popova, Mr. Mihail Tenev, Ms. Tatiana Benisheva-Dimitrova, Ms. Roza Manova and Mr. Ivan Badinski;
Source: State Gazette (31.10.2000)

The Mayor of Sofia Mr. Stefan Sofianski and the Mayor of Moscow Mr. Juriy Lujkov have agreed the Moscow municipality to purchase the medicaments directly by the companies producers in Sofia. Another agreement is that the company Vamo in Varna will produce the engines for the Russian factories for cars ZIL. The factory is a property of the Moscow city Council. The Russian mayor promised that 30 per cent of the production to be paid in advance.
Source: BTA (30.11.2000)

Sopharma expects a growth of the profit with 34 per cent this year in comparison with 1999 but the shareholders will not get dividends, announced the Executive Director of the company Mr. Ognian Donev. He specified that the expected profit amounts to USD 17.4 million. Probably dividends for 2000 and 2001 will not be distributed too since the funds will be used for investments. Mr. Donev considers to increase the export in 2001 and 2002. Last year Sopharma distributed 30 per cent of its profit that amounts to BGN 11.4 million.
Source: Standart (14.12.2000)

The offer of Sofarma about the right of the shareholders to sign shares from the raise of the capital as of December 22, caused a confusion and insecurity among some minority shareholders. According to them the circumstances may change and on January 8 the General Meeting to decide that will be signed not 5.36 new shares per each old but for example 15 new shares.
Source: Pari (20.12.2000)

Elpharma JSC intends to vote at its General Meeting on January 8, 2001 the opportunity of each shareholder in the company as of January 15 of taking part in the raise of the capital of Sopharma JSC. Elpharma tries to keep the clearness of the Bulgarian capital market.
Source: BTA (22.12.2000)