Author: Claudia Facchini

Source: Valor Econômico - SP - 06/10/2009

Claudia Facchini, from São Paulo

Drogaria São Paulo's shareholder and chairman, Ronaldo de Carvalho, sent a statement to the market on Friday to announce the company's new president, the country's second largest pharmacy chain. Gilberto Martins Ferreira, who was already part of the executive board, took office yesterday after the departure of Marcus Paiva, who spent nine years in the presidency. Paiva left the company to “dedicate himself to personal projects”.

The pharmacy chain earned R $ 1,4 billion in 2008 and, in the sector, is cited among candidates to go public in the future.

Ultrafarma, one of the largest drug sales websites in the country, on the contrary, went back on the change of command. The founder of the chain, Sidney Oliveira, published in the newspapers, on Sunday, a full page ad in which he states: “I renew, here, my commitment to continue working more and more”. Oliveira introduces himself as “president of Ultrafarma”. Just a few weeks ago, the businessman had published an ad stating that he had left the company.

The information that circulated in the sector was that Oliveira had been removed by his ex-wife, with whom he has a litigious divorce process. Sought, the company did not comment.

The retail of medicines goes through a process of concentration, stimulated by the entry into force of the tax substitution regime, which inhibited tax evasion. With this, the sector is attracting new investors and it is expected that the acquisition movement will increase. Recently, the BTG Pactual fund bought Farmais.