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PSP: When Banks are Competitors, Having Plenty of Money, we Will not Expand

PSP: When Banks are Competitors, Having Plenty of Money, we Will not Expand

“When our competitors are banks, who have plenty of money, we will not expand, we should try to sustain what we own”, – founder of PSP estimates the extension on the pharmaceutical market as competition restriction.

According to Kakha Okriashvili, expand of medical profile companies, related to the banks, is a separate topicof discussion. The fact is that competitor does not get sharp, on contrary… So, PSP will not start new projects, because they bear big risks, when competitor is rather big.

In addition, PSP’s market share exceeds 30%, it is more than joint share of Pharmadepo and GPC. The chain is more popular if we envisage realization volume. The company continues arrangement of the chain with a new concept. According to the founder, it has success and more customers choose PSP chain.

However, another pharmaceutical company “Aversi” protests competition with the banks. Malkhaz Kurtannidze considers inexpedient direct or indirect management of non-core assets. Georgia Healthcare Group PLC (“GHG” or the “Group”) announces to acquire JSC ABC Pharmacia (“ABC” or the “Company”), the name of the merged company will be JSC Georgian Pharmacy (“GEPHA”).

The company informed investors that GHG has signed a Sale and Purchase Agreement (“SPA”) on acquisition of JSC ABC Pharmacia (holder of Pharmadepo), now it is a subject of competition agency approval.