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Galenika opens €50m medicines factory

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Serbian Prime Minister Mirko Cvetkovic has opened a new factory of pharmaceutical company Galenika whose value is more than €50 million.

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

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

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

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

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 emphasised.

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The privatisation of Galenika was unsuccessful, recalled Dinkic, adding that the plan for selling the company was given up because bidder companies were not stronger than Galenika.

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

Galenika General Manager Nenad Ognjenovic said 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 capacities.

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

The opening of the factory was also attended by First Deputy Prime Minister and Minister of the Interior Ivica Dacic, Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic, Chair of the Serbian parliament Slavica Djukic-Dejanovic, Deputy Mayor of Belgrade Milan Krkobabic and other state officials.

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