PwC Romania assisted the Polish group Polpharma in the acquisition of a majority stake in Biofarm

Bucharest, August 6, 2026 – PwC Romania provided financial and tax due diligence services, as well as transaction support services, to the Polish pharmaceutical group Polpharma in connection with its acquisition of Biofarm, one of Romania’s leading pharmaceutical manufacturers. The transaction was carried out through a public takeover offer successfully completed on the Bucharest Stock Exchange (BVB), following an implementation agreement concluded between Polpharma and Biofarm's main shareholders – the investment companies Longshield Investment Group and Lion Capital.

"We are honoured to have had the opportunity to work alongside the Polpharma group and its advisors in a landmark transaction that strengthens the group's position in the European pharmaceutical sector. The successful completion of this acquisition was made possible through the involvement of a multidisciplinary team with significant industry expertise, as well and an integrated and efficient approach. I would like to thank all the teams involved in this project for their dedication and professionalism," said Cornelia Bumbăcea, Deals Partner, PwC Romania.

"From a tax perspective, transactions of this complexity require a careful analysis of the specific characteristics and implications of the local market. We are pleased to have provided Polpharma with clarity on the relevant tax considerations and practical support in structuring and negotiating the contractual provisions, thereby contributing to a solid and well-founded transaction," said Andreea Mitiriță, Tax Services Partner, PwC Romania.

The financial due diligence (FDD) team was coordinated by Cornelia Bumbăcea, Partner, and included Andreea Oprescu, Director, Ana Melenciuc, Manager, and Bogdan Dragotă, Senior Consultant. 

The tax due diligence (TDD) team consisted of Andreea Mitiriță, Partner, Adina Vizoli, Partner, Ștefan Cristescu, Senior Manager, Mădălin Manea, Senior Manager, Olivia Duică, Senior Consultant, and Diana Vizii, Senior Consultant.

Polpharma is the market leader in the Polish pharmaceutical industry and one of the largest pharmaceutical manufacturers in Central and Eastern Europe. The acquisition of Biofarm represents an important strategic step in the group's regional expansion and the strengthening of its position in Central and Eastern European markets.

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