Serbia To Call Tender for Advisor of Sale of Drug Maker Galenika Next Week - Media

Dinkic also said that the privatisation process will be completed in the first half of 2009, adding that Serbia plans to open 10 tenders and 209 auctions for sales of state-owned assets by the end of 2008, Tanjug reported.

Galenika (www.galenika.co.yu), which is 100%-state-owned, exports its production to countries of Southeast Europe, the former Soviet Union, Africa and Asia.

Its net profit fell to 596 million dinars ($11 million/8 million euro) in 2006 from 1.9 billion dinars in 2005. However, its 2006 revenue rose to 7.3 billion dinars from 5.8 billion in 2005.

(1 euro = 84.9904 dinars)