ZF English

Banks still lending money to pharmaceutical market

Autor: Ioana David

30.09.2010, 23:44 25

Fildas group of firms, controlled by Anca Vlad, is set torefinance, in October, a 71m-euro loan contracted three years agofrom a syndicate made up of ten banks, with the documents to besigned in the following period.
"Conditions are not different (compared with 2007 i.e.). We'vebenefitted from a smooth restructuring. The major issue insyndication is harmonising ten points of view," Anca Vlad toldZiarul Financiar.
There is no information available about who will lend to thecompany this year. Refinancing is operated over a five-year periodand its value is lower than the 80m-euro contracted in 2007 as thedifference has already been paid.
"This year, Fildas' strategy includes growth of its own retailoperations, namely through Catena pharmacies as opposed towholesale because of the non-payment risk. There have been a lot ofbankruptcies and insolvency cases lately. We're focusing on sellingthrough safe channels," said Mihai Drumea, financial manager ofFildas.
In a press conference yesterday, Anca Vlad announced Catenapharmacies have cut prices of around 700 products by 15-22%, acampaign due to unfold over a 4-month period.

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