Commission approves all three Galenika bids – Analysis of bids to follow

The commission for carrying out the strategic partnership procedure for Galenika approved on Friday, August 19, all three bids, the Ministry of Economy announced.

Each of the bidders for the strategic partnership with Galenika had met the requirements, following two instances of amending the documentation.

– Considering that the bids were timely and complete, the commission opened the financial bids – the Ministry reported.

The bidders are India’s Cadila Pharmaceuticals Limited, Brazil’s EMS S.A. and the Consortium of Frontier Pharma Limited from Great Britain and LLC NPA Petrovax Pharm from Russia.

In the period ahead, the commission will perform an analysis of the bids and prepare the shortlist, which will be submitted for approval to the Government of Serbia.

The shortlist is prepared by applying criteria regarding the offered amount of capital increase for acquiring 25% of Galenika’s capital, the proposed percentage of the selling price which goes to the Republic of Serbia and the Shareholders’ fund in the joint sale of Galenika shares with the strategic partner, as well as the proposed minimum number of Galenika employees during the strategic partnership period.

Galenika a.d. Beograd

Galenika

privatization of Galenika

sale of Galenike

Cadila Pharmaceuticals Limited India

EMS SA Brazil

Frontier Pharma Limited Great Britain

LLC NPA Petrovax Pharm Russia