About this iReport
  • Not verified by CNN

  • Click to view GuardianSrb's profile
    Posted May 29, 2014 by

    More from GuardianSrb

    Serbian biggest and only country-own pharm company is being recapitalized from Arabian and Ukrainian largest companies

    Arabian "Julfar Pharmacy" and Ukrainian "Arterium" are interested for an strategic partnership with Serbian biggest pharm company "Galenika".

    "Julfar" is interested in the production of insulin in Zemun, which otherwise hasn't been produced in Serbia. This factory is a leading manufacturer of inuslin in North Africa and Asia, and its arrival in Serbia would be its penetration into Europe.

    "Julfar" was founded in 1980 and forms part of the pharmaceutical group "Galf" from the Emirates. Factory has about 2,000 workers and just last year has sold total drugs worth of 271 million euros reaching a profit of 45.5 million euros. "Julfar" produces 470 different drugs, most of them being insulin, antibiotics, drugs for the cardiovascular, pulmonary and skin diseases.

    Ukrainian pharmaceutical company "Arterium", a national leader in the production of antibiotics and a significant producer of medicines based on herbs, is interested to build a plant for the production of infusion solutions and natural remedies in Serbia. It has 1,000 employees and produces 140 drugs. Its main exports are to Kazakhstan, Uzbekistan, Belarus and Russia.

    "Galenika" would give the staff, brand and potential, while the Ukrainians and Arabs would have to invest the capital, providing their technology and patented products.

    Serbian company has confirmed that has held two meetings with the "Julfar". The management said talks were held on a joint investment in a new plant.

    In the office of the General Director Zivomir Novakovic have said that they have been in "a long talk with Arterium".

    "We have signed a letter of intent. So far, the main topics are on exports to Ukraine and processing of a solid pharmaceutical preparations in our factory."
    Add your Story Add your Story