Hungarian State To Buy Stakes In Pharmacies

  • 21 Jun 2013 9:00 AM
Hungarian State To Buy Stakes In Pharmacies
A modification filed to the pharmacy bill, final voting on which is scheduled for today, allows the state to step in and buy majority stakes in pharmacies if the resident pharmacist is unable to do so.

A law approved by the Orbán government states that pharmacists must acquire at least 25% ownership in pharmacies by January 1, 2014 and 51% by January 1, 2017.

If no pharmacist exercises the pre-emptive right to buy a greater stake within 30 days of the above deadlines, then the state will have the right to purchase the stake.

These stakes can be resold by the state at a public auction after three years.

Source: Hungary Around the Clock

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