PHF, which is due to be floated on the Polish Stock Exchange in 2006, was formed last year after the merger of three state-owned drug companies and is valued at about 1 billion zlotych (€250m). It controls 6% of the drugs market.
Declan Ryan of Enterprise Ireland’s Warsaw office said: “We contacted the treasury directly on the company’s behalf over the past few weeks.”
Reports in Poland said that the bidder is a pharmaceutical firm listed on the London Stock Exchange.
Alltracel, the medical products company founded by Gerry Brandon, conducts research in Prague and has interests in China through its recent acquisition of Westone Products, a UK developer of oral care products. Alltracel denied it had made the bid and industry sources have doubted whether the company would have the resources to finance the deal.
Brandon stepped down as chief executive of Alltracel last year to concentrate on setting up his own pan-European drugs company and was linked with a move into Poland.
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Elan, the Athlone-based company, is the only other UK-listed Irish pharmaceutical firm. It refused to comment on whether it was behind the offer.
The Polish Treasury said: “We haven’t made a decision yet. The company is restructuring and we don’t think we will be changing its strategy for privatisation.”