Novolog (Pharm-Up 1966) is the largest pharmaceutical distributor in Israel. It engages in distributing drugs and medical devices, and in providing logistical services for clinical researches and for various allied health professions services.
Shaul Kobrinsky, Chairman and CEO at Novolog: "I would like to thank the investors, who purchased the company shares and expressed their faith in the company. I would also like to thank the dedicated managers and employees of the company, who are providing excellent service on a daily basis to our clients. Thanks to them, the company has reached a central, leading position in the Israeli healthcare sector."
Ishay Davidi, CEO at FIMI Opportunity Funds: "When you reach such a state of maturity, it is time to thank those responsible for it: the company staff, its managers, and all the IPO partners. The company bears great potential and I am certain its managers will continue leading it with excellence."
Hani Shitrit Bach, TASE Senior Vice President and Head of Listing & Economics Department: "Novolog is the largest of four companies to be listed on the Tel Aviv Stock Exchange since the beginning of 2017. The four companies have together raised approximately NIS 500 million. Novolog has annual revenue of over NIS 700 million and a dividend policy of distributing 70% of the net profit. Its market value today stands at NIS 617 million, approximately 10% above the IPO price, which means that investors who purchased the company shares during the IPO, have already profited. The company shares are expected to be included in the SME-60 Index on 4 May 2017 as part of the "Fast Track".