Pharmaceutical group Polska Grupa Farmaceutyczna (PGF) estimates that its 2011 net profit will total zł.78 million, zł.7 million more than it recorded last year, reported Gazeta Wyborcza.

The year’s sales are also expected to reach a record-breaking level of zł.6.4 billion, the firm announced during a presentation on Monday. The company also reported that it plans to pay out a dividend of zł.1.23 per share from its profits.

PGF, whose core operations include the wholesale supply of medication and medical supplies, has also announced plans to change the structure of the group and along with it, the company name.

The firm's new name will be Pelion, and it will be a holding consolidating four main areas of operation: wholesale, hospital supplies, retail sales and patient services.

Poland A.M.