Leaders of rulling coalition decided to announce a tender for this pharmacy company in the beginning of next year. Reason – unsustainable financial situation at Galenika.
Galenika will search strategy partner again. Leaders of rulling coalition decided to announce a tender for this pharmacy company in the beginning of next year. Reason – unsustainable financial situation at Galenika.
Beside wish to keep domestic pharmacy company, government decided to offer it to interested partners because millions of debts. Galenika’s losses worth about 170 million euros at the moment, and it has been on the list of 100 best selling companies in Serbia just a few years earlier. It is needed 50 million euros just to cover current liquidities.
The initial value of 100% Galenika’s capital will be estimated to around 120 million euros- government confirmed to Novosti. Few big foreign companies have already shown some interest, among them Canadian company Valiant. Valiant has bought ICN few years ago, a former company of Milan Pajic, who was director of Galenika in the 90s. He also owns Farmavisa, company which is already doing business in Serbia. Minister of Finance and Economy, Mladjan Dinkic, will meet all representative syndicates in Galenika on Monday, when he will announce all of the details about the company selling.
Source Serbia-business.com
