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The Government of the Republic of Serbia

In the service of citizens

Galenika opens €50m new pharmaceutical factory

Belgrade, 21 June 2010

Serbian Prime Minister Mirko Cvetkovic has opened Galenika’s new factory for the production of solid medicines, the value of which is more than €50 million.

Author: www.infobiro.rs

Cvetkovic pointed out that Galenika, with support from the Serbian government and with its own development capacity, will become more competitive in the domestic market and will increase exports.

He stressed that the government supports Galenika’s export orientation and that of other companies as well, since it is the government’s goal to increase exports and to change Serbia’s GDP structure.

Since the beginning of the year Serbia has recorded some good results in terms of increasing exports, highlighted Cvetkovic, adding that the first quarter of this year saw a monthly export growth of 18% on average.

The government supports investment in science, research and development, which includes investment in the pharmaceutical industry, Cvetkovic said and expressed satisfaction that Galenika is opening a new factory on its 55th anniversary.

The Prime Minister announced that a document on the strategic reform of Serbia’s economic policy will be ready by September, adding that various options are being considered in this regard.

An approach to tax reform is still to be finalised but a public debate on the draft of the document will begin before September, he explained.

This document will serve as a basis for reforms over the next five to ten years, he noted.

Author: www.infobiro.rs

First Deputy Prime Minister and Minister of the Interior Ivica Dacic underscored that the opening of the new Galenika factory is an opportunity for development which will pave the way for this company to become a regional leader in the pharmaceutical sector.

Dacic emphasised that the government has made a good move as it did not insist on the privatisation of Galenika at any cost, as it turned out that there was no ideal strategic partner.

He underlined that the market is gradually opening up for Galenika, this also being due to agreements on free trade that Serbia has with several countries, including the Russian Federation, which allows drugs to be exempt from customs duties.

Author: www.infobiro.rs

Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic stated that Serbia has the potential to develop its own pharmaceutical industry.

He expressed his conviction that this investment will make Galenika more competitive and announced that the government will offer the company support for exporting its products to foreign markets and will make diplomatic efforts to help it return to African and Asian markets.

The company has introduced modern standards, which will help it export to the EU and Russia, he affirmed.

The privatisation of Galenika was unsuccessful, recalled Dinkic, adding that the plan to sell the company was abandoned because bidder companies were not stronger than Galenika.

The fact that the latest investment in Galenika was made during a time of economic crisis speaks of its enormous success and is a great encouragement to the Serbian economy, he asserted.

Author: www.infobiro.rs

Galenika General Manager Nenad Ognjenovic outlined that the capacity of the new factory will be about two billion tablets and 100 million capsules per year, adding that this will double Galenika’s production capacity.

The plants spanning 10,000 square metres, fully automated, will employ 150 workers, most of whom are university degree-educated, Ognjenovic declared.

The opening of the factory was also attended by Chair of the Serbian parliament Slavica Djukic-Dejanovic, Deputy Mayor of Belgrade Milan Krkobabic and other state officials.