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Wednesday, April 20, 2005

New Pharm in Romania

Elran Holdings and New Pharm Drugstores Ltd. will set up a nationwide drugstore chain in Romania under the New Pharm label. The parties signed a cooperation agreement on Monday. The joint company, New Pharm Europe, has signed its first lease for a drugstore to be opened in August in Constanta, a Black Sea port and resort city with 300,000 residents.

"The joint Elran-New Pharm venture is the most innovative retail venture in Romania. The country is considered a drugstore business opportunity, since the country only has pharmacies and lacks stores with a drugstore concept", reports Globes Israel.

New Pharm Europe will operate as a private company in Romania. Elran and New Pharm will each own half of the company, which plans to establish a nationwide chain of drugstores.

Posted by Mihai : 4/20/2005 05:55:00 pm