Serbia's Galenika calls for end to strike with wage hike - report

The proposed wage increase consists of two parts: one implemented from the February salary and the other from June. This increase amounts to a 16% raise for employees on the lowest wages, the company was cited as saying by Blic daily on Tuesday.

The offer was accepted by one of the two trade unions, according to the report.

On Monday, around 250 employees, around 20% of the company's workforce, went on strike, demanding a 10% increase in salaries on average.

In 2017, Aelius, a company affiliated to Brazilian pharma group EMS, purchased a 93.7% stake in Galenika from the Serbian government for 16 million euro ($17.4 million) and later squeezed out minorities.

Serbia sold debt-ridden Galenika as part of an initiative to sell unprofitable state-run firms as part of an agreement with the International Monetary Fund.

$ = 0.9208 euro