Bulgarian Pharmaceutical Company (BPC) signed the contract for the privatization of 54% of Biovet veterinary pharmaceutical company for USD 10.693mn, announced from the Privatization Agency. BPC was supposed to pay 30% of the price upon signing the contract while paying the rest within 45 days. However, the company decided to pay the whole sum upfront. BPC would invest some USD 10mn over the next 5 years, preserve the brand name of the pharmaceutical products and keep the staff above the existing number of employees, which is 1,159