On the occasion of the 85th Anniversary of Sopharma, the company grants some its shares as a employees bonus for 2018. The decision was taken at a regular General Meeting of Shareholders (GMS) of Sopharma held on June 15th, 2018 and was proposed by the Board of Directors. The bonus is applicable to all employees with labor contracts with the company and includes those who are working under a management contract on the date of the decision. The bonus is paid as an expense of the company’s own shares.
The main reasons for such decision are the value of the people who have achieved the company’s current results; creating additional motivation and interest to be successful; promoting the development of the stock exchange in Bulgaria; enhancing the financial culture of a significant group of people; and creating an alternative to employee savings.
This is an extension of Sopharma’s Corporate Social Responsibility Program by distributing employees’ bonuses in company shares. It will be accompanied by active communication relating to stock exchange and shares. This will stimulate the development of an investment culture and even better performance of the team, according to Ognyan Donev, CEO, Sopharma.
Sopharma will plant 1 million golden rain trees near Chirpan in September on a portion of the 8,000 acre land bought specifically for the plants, needed for the original products producing. Golden rain tree is the plant from which the cytisine is extracted, which is used for the manufacture of the Tabex, quit-smoking cessation drug. Clinical trials are currently underway in the American Food and Drugs Agency for the product approval for the US market. Sopharma has an agreement for production of cytisine and tablets with Achieve Life Sciences and has a minority shareholding in the company.
“The privatization of Sopharma in 2000 I consider the most successful privatization of a company in Bulgaria. We have invested BGN 80 mln in the new factory in Sofia. Today the company has renewed all its capacities in Bulgaria.” – Ognyan Donev, Chairman of the Board of Directors, told the shareholders.
The construction of a new extraction facility at the plant in Kazanlak will start in 2019. At the end of August 2018, the construction projects of the new lyophilised plant of Sopharma in Sofia will be ready, which is the other part of the investment program of the company in new capacity, in order to meet the demand in Bulgaria and export markets. The size of the investment in this plant is up to BGN 30 mln.
Lyophilised products are dried medicines that dissolve before use.
Source: Sopharma AD