Alapis Holding Industrial & Commercial Societe Anonyme of Pharmaceutical Chemica (ALA:Berlin Stock Exchange)

Alapis S.A. reported consolidated earnings results for the first three quarters of 2009. The company announced that in the first three quarters, its consolidated turnover increased by 10.1%, to EUR 772.8 million ($1.133 billion). The group's consolidated earnings before interest, tax, depreciation, and amortisation in this period amounted to EUR 251.7 million, representing an increase of 32%. The EBITDA margin went up to 32.6%, compared with 27.2% in the equivalent period of 2008. There was a 29.2% increase in the turnover of the group's healthcare (human and veterinary) division, which was explained as the result of an increase in its product portfolio in the oncology, central nervous system, metabolism, and cardiovascular therapeutic groups, as well as the synergies in its human pharmaceuticals divisions.

Economy Ministry Official of Serbia, Nebojsa Ciric said that the government may offer for sale Galenika a.d. in September. The privatization agency and the economy ministry are due to inspect the documentation prepared by the privatization adviser, and then give their approval of the proposed privatization strategy and lowest acceptable price for the pharmaceutical company, Ciric added. The government had earlier said that it planned to sell a 70% stake in Galenika, which could reportedly be worth €200 million. Ciric did not disclose the price the government plans to set upon calling a tender, but added that Galenika will not be under-sold. It is also known that Alapis S.A. and STADA Arzneimittel Aktiengesellschaft have expressed their interest in Galenika.

Alapis SA is looking to raise €500 million through a rights issue to fund acquisitions. A source close to the matter, on August 5 confirmed earlier web site reports that the company was set to place new shares. “The company is looking to boost its capital soon by €500 million to fund further growth via acquisitions, mainly in the Balkans,” the source told Reuters. “Underwriters will be Sal. Oppenheim, Deutsche Bank AG and Bank of America Corp., while proceeds will fund new buyouts,” euro2day.gr said. The source would not confirm the underwriters and said the terms had not been finalized.