Govt. won't sell Galenika pharmaceutical

Economy Minister Mladjan Dinkic says it was decided that the Belgrade-based pharmaceutical company Galenika will not be sold. This came since, according to him, none of the bidders who wished to buy the state-owned firm were “world known companies”. Govt. won't sell Galenika pharmaceutical There will be no new tenders this year, and Galenika has an opportunity to strengthen its business position with government support, Tanjug reported. Two companies submitted indicative bids to take part in a preliminary tender for purchasing Galenika shares: Surya Pharmaceutical Limited from India, and RPG Partners Limited from Cyprus, the Privatization Agency announced in Belgrade on Friday. The Privatization Agency published the invitation for indicative bids to buy a majority share of Galenika on December 15, 2009. The right to bid was given to strategic investors with relevant experience in the pharmaceutical industry for the past five financial years, and who had more than EUR 100mn in revenues from selling pharmaceutical products in 2008. Another group that was also given the right to participate were the financial investors whose assets were no less than EUR 250mn at the end of 2008.

Govt. won't sell Galenika pharmaceutical

There will be no new tenders this year, and Galenika has an opportunity to strengthen its business position with government support, Tanjug reported.

Two companies submitted indicative bids to take part in a preliminary tender for purchasing Galenika shares: Surya Pharmaceutical Limited from India, and RPG Partners Limited from Cyprus, the Privatization Agency announced in Belgrade on Friday.

The Privatization Agency published the invitation for indicative bids to buy a majority share of Galenika on December 15, 2009.

The right to bid was given to strategic investors with relevant experience in the pharmaceutical industry for the past five financial years, and who had more than EUR 100mn in revenues from selling pharmaceutical products in 2008.

Another group that was also given the right to participate were the financial investors whose assets were no less than EUR 250mn at the end of 2008.