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Bioton, controlled by Ryszard Krauze, and Polpharma, operated by Jerzy Starak, are planning to merge and to this end both businessmen have signed an agreement.

"We decided to prepare a study regarding the merger of Bioton with Polpharma. We want to have the schedule of work ready by December 15," said Mr Krauze.

In his opinion, the synergies between the biotechnology company and the largest domestic producer of generic drugs are obvious.

"Polpharma has a stable position on the market and a strong financial base, which Bioton could use. We have a future that is biotechnology and innovative drugs, which the company of Jerzy Starak is missing," said Mr Krauze.

He stressed that the final decision on the merger has not yet been taken and the main issue might be the parity of share exchange and division of competencies.

"I want to retain real influence on the strategy of the joint company in the sphere in which Bioton currently operates. In terms of capital issues, I am ready to take a minority shareholder position," said the main shareholder of Bioton.

Source: Puls Biznesu