BELGRADE (Serbia), December 11 (SeeNews) – Serbian drug maker Hemofarm is interested in acquiring the country’s largest drug maker Galenika, slated for privatisation, local broadcaster b92 reported on Friday.
Hemofarm, owned by Germany’s STADA, will take part next week in a prequalification tender for the sale of Galenika, b92 (www.b92.net) quoted Hemofarm vice president Dragomir Curcic as saying.
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The government in Belgrade will call the prequalification tender on December 15, Economy Minister Mladjan Dinkic said last week. He confirmed earlier reports carried by local media that the government would not consider bidders offering less than 200 million euro ($295.3 million) for 100% of Galenika.
The privatisation of Galenika will be completed in two stages. The first stage is the prequalification tender, which will enable Serbia to see who is interested in a strategic partnership with the drug maker. The second stage will be a binding tender based on which Serbia will decide whether to sell Galenika or not. Dinkic also said that the government will put off its sale if it doesn’t receive appropriate bids.
Galenika expects its net profit to rise by around 10% to 7.0 million euro ($10 million) this year, the company's director general, Nenad Ognjenovic, told SeeNews earlier.
Its main domestic competitors include Sumadijalek, owned by Greek pharmaceutical company Alapis and Hemofarm.
German generic drugs producer STADA completed the acquisition of Hemofarm for 494 million euro in September 2006. Hemofarm is also present in Serbia’s western neighbour Bosnia.
($=0.6772 euro)