NEWS

Bulgaria’s Sopharma Trading to grow operations in Serbia

SOFIA (Bulgaria), June 22 (SeeNews) - Bulgarian drug distributor and retailer Sopharma Trading [BUL:SO5] plans to expand its operations on the Serbian market and to become a strategic investor in Southeast Europe (SEE), it said.

Sopharma Trading is planning to implement its successful diversified business model in Serbia and SEE, bringing the world's best practices, technology and innovations, the company said in a statement on Thursday.

The first step will be to become leader in Serbia by expanding significantly the company's operations and logistics potential, Dimitar Dimitrov, CEO of Sopharma Trading, said.

This development will be used as a basis for regional expansion, "since Sopharma Trading sees the whole region of Eastern Europe and in particular Balkans as a vast opportunity for growth," Dimitrov added.

As an innovator and pioneer in its homeland operations, Sopharma Trading is looking to bring to the Serbian market and the whole region modern, world-leading technologies and practices in different sectors such as wholesale and retail services and medical equipment," the CEO of Sopharma Trading Serbia, Milos Ristic, noted.

Sopharma Trading started a regional expansion in 2015 ago by opening a subsidiary in Belgrade focused on exclusive brands in the health and beauty segment, and establishing its own retail outlets in the pharmacy market in the country under the brand SOpharmacy.

In August 2017, Sopharma Trading said it completed the acquisition of a 70% stake in Serbian drug wholesaler Lekovit for an undisclosed sum.