** Pharmacy Chain 36.6 plans to complete merger with A5 in early December and the joint network aims to open up to 1,000 pharmacies in the regions organically, the pharmacy representatives said at a press conference on Thursday
** The company expect to complete the placement of shares under the merger with A5 by mid-November and to register the results in early December, director of corporate financing Yury Gusarov told journalists
** The joint network is receiving a number of assets in the regions in the course of the merger (A5 operates in Leningrad region and Central Russia, among others), and is planning to further develop thereby opening organically 1,000 pharmacies per year, chairman of the board Ivan Saganelidze said
** The company is able to open organically from 80 to 120 pharmacies in a month, he added
** He has not named the specific regions, saying that there will be selection of the cities where the company has the best opportunities in terms of logistics and personnel, adding that primarily Gorzdrav discounter will be developed
** Currently, the company has over 1,700 pharmacies
For further company coverage For the story in Russian, click (Reported by Olga Sichkar in Moscow, translated by Gdynia Newsroom).
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Source: Reuters.com