Baku, Azerbaijan, March 2
By Fakhri Vakilov – Trend:
Uzbek State Committee for Competition terminated an agreement with the American United Investment Healthcare Group on the trust management of 71 percent of the state-owned shares in AK Dori-Darmon, a big pharmaceutical retailer in Uzbekistan, Trend reports citing the retailer’s press service.
However, no reasons for the agreement termination are reported.
About a month after AK Dori-Darmon was transferred to trust management, the UIHG offered a new experienced team of managers along with the implementation of best practices to ensure transparency and accountability, said the United Investment Healthcare Group, adding these initiatives have not been undertaken.
In early December 2018, the Uzbek State Committee for Competition and the United Investment Healthcare Group signed an agreement on transferring the trust management of 71 percent of state-owned shares in AK Dori-Darmon. The contract was signed for five years with a possible extension for five more years.
Currently, AK Dori-Darmon includes 8 joint stock companies and 6 limited liability companies. The company’s chain has about 2,000 pharmacies and their branches, including 717 at rural medical stations and rural family clinics.
In recent years, the company's financial position has deteriorated sharply. The results of activities for 11 months of 2018 show that debts to partners and banks reached 125.4 billion soums and 54 billion soums, respectively.
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