Board of Romanian pharmaceutical manufacturer Biofarm greenlights takeover by Polish buyer

The Board of Directors of the Romanian pharmaceutical manufacturer Biofarm (BVB: BIO) officially approved the public takeover bid launched by the Polish group Zakłady Farmaceutyczne Polpharma on Monday, May 25.

The company leadership adopted a resolution approving the offer announced by Polpharma on May 20. The offer targets the acquisition of 985.3 million ordinary shares, representing 100% of the company’s share capital. The total value involved in the offer amounts to approximately RON 1.36 billion, the equivalent of approximately EUR 270 million.

According to information previously announced on the stock exchange, Biofarm’s largest shareholders, Longshield Investment Group and Lion Capital, which together control more than 88% of the company, have committed to selling their entire holdings within the offer.

After obtaining more than 95% of the company’s shares, the Polish group could initiate the squeeze-out procedure for minority shareholders and subsequently delist Biofarm from the Bucharest Stock Exchange, according to capital market rules. The transaction is subject to approval by the Financial Supervisory Authority (ASF).

Before the effective launch of the offer, the shareholders also notified the company regarding the intention to distribute a special dividend of RON 0.140263 per share, a proposal that is to be submitted for approval to the General Meeting of Shareholders.

The Polish group Polpharma is one of the largest pharmaceutical manufacturers in Poland. The transaction would be one of the largest for the local pharmaceutical industry. In 2025, Biofarm reported a turnover of RON 319 million lei and a net profit of RON 100 million. The company has 369 employees.

(Photo source: Biofarm on Facebook)