SCHEME/ How Delta Pharmas was sold, the journalist gives details

2023-12-30 11:22:00, Aktualitet CNA

SCHEME/ How Delta Pharmas was sold, the journalist gives details

Klodian Tomorri

After the investigations into the former Minister of Health, Ilir Beqaj, where the pharmaceutical company "Delta Pharmas" also appears, journalist Klodian Tomorri tells us details from this company.

In a post on social networks, Tomorri indicates that "Delta Pharma" was previously owned with 100% of the shares by Eduar Curraj.

But what happened next?

In January 2023, the company Delta Holding was established with a half share between Dorian Sadik and Eduart Curraj. Then, according to the journalist, in February, Curraj sells Delta Pharma to the company Delta Holding with a value of 9 million eruos.

The payment of this amount would be decided from time to time by a collective decision of the partners of Delta Holding. The ensemble of Delta Holding is Curraj and Sadiku. So, Sadiku entered a business worth 40 million euros per year without a single penny," says the journalist.

Tomorri further emphasizes that Dorjan Sadiku is the brother-in-law of Kliti Hoti, who is the official representative of Novartis in Albania.

"Being the official representative of a global pharmaceutical giant and having a family business distributing medicines with another company is not allowed. The company, in this case Novartis, does not allow it," he says.

Full reaction:

Sale of Delta Pharma as financial engineering
Delta Pharma was 100 percent owned by Eduard Curraj. It is the second largest pharmaceutical company in Albania with an annual turnover of around 40 million euros and a net profit of around 2-2.5 million euros per year.

In January of this year, Delta Holding was established. The partners of Delta Holding are Dorian Sadiku and Eduart Curraj, each with 50 percent of the shares, while the capital of the company is 50 thousand euros.

On February 27, Curraj sells Delta Pharma to the Delta Holding company, where he himself owned 50 percent of the shares. So Mr. Curraj sold a business where he was 100 percent owner to a company where he was 50 percent owner. The other half went to Sadik. But no. So far so good.

The sale price in the contract is set at 903 million lek or about 9 million euros, no less. But the engineering depends on the payment method. (The term financial engineering was invented by Berlusconi when he hid money because he was followed by Di Pietro during Mani Pulita's time.)

Initially, the buyer, i.e. Delta Holding, will pay only 30 thousand euros within 3 months from the signing of the contract to the account of the seller, i.e. Delta Pharmas. The rest of the price of 8,970,000 euros will be repaid over 10 years.

The payment of this amount would be decided from time to time by the decision of the Delta Holding shareholders. The ensemble of Delta Holding is Curraj and Sadiku. So, Sadiku entered a 40 million euro a year business without any money. And he would pay the purchase price of the quotas with the profits of the business he bought. That's how you can buy Apple or Amazon. You get in without any money and you become the owner of half of Apple that you pay the price with the profits that Apple will make on the road.

But the story is even more interesting than that. Dorjan Sadiku is the brother-in-law of Kliti Hoti. Mr. Hoti is the official representative of Novartis in Albania.

Being the official representative of a global pharmaceutical giant and having a family business distributing medicines with another company is not allowed. The company does not allow it, in this case Novartis.

Now why has Novartis turned a blind eye to the issue? There are two alternatives here. Either they threw it, or it was fun to throw it to them. But this is very strange for a global company./ CNA