Arabs and Ukrainians interested in Galenika Pharmaceuticals

Arabs and Ukrainians interested in Galenika Pharmaceuticals

The Julphar, an Arab pharmaceutical company and the Arterium Corporation of Ukraine are interested in strategic partnership with the Galenika a.d., the Blic learns.

The Julphar of Abu Dhabi is interested in production of insulin which is not being produced in Serbia. This Arab factory is the leading insulin producer in the Northern Africa and Asia. Its coming to Serbia would be its break through in Europe. The Julphar was founded in 1980 and is a part of the Gulf, a pharmaceutical group from the Emirates.

The factory with about 2,000 employees sold last year medical drugs for 271 million Euros and made a profit of 45.5 million Euros. The Julphar is producing 470 different medical drugs, mostly insulin, antibiotics and medicaments for cardiovascular, lung and skin diseases.

The Arterium of Ukraine is interested in construction of plants for production of infusion solutions and natural medicaments. This company is a national leader in production of antibiotics and a significant producer of plants based medicaments. It has one thousand employees and produces 140 medical drugs.

The Galenika would provide staff, brand and potential while the Ukrainians and Arabs would invest money, technology and patent products.

The Galenika a.d. confirmed to the Blic that they had had two meetings with the Julphar about joint venture in new production plant.

According to Zivomir Novakovic, the Galenika General Director a letter of intent has been signed.