Velefarm goes into bankruptcy

Velefarm, the largest wholesaler of prescription medical drugs in Serbia, shall go into bankruptcy on April 26. As Blic learns, employees were promised to be given new jobs in less than a month time. Manufacturers of medical drugs claim that the whole pharmaceutical sector will collapse soon and that shortages of medical drugs are possible.

Blic cites its source at Velefarm as claiming that this company has been facing serious problems for several months now. In recent time such situation has only escalated.

The company’s account has been blocked for more than a year. Velefarm has 600 employees. However, there was not enough work for all of them so the only solution was to send some of them on a forced leave.

The state holds a 10-percent stake in Velefarm, while Hemofarm, that is, Stada, owns nearly a fifth of shares in that company. According to the official list of the Central Securities Register, Velefarm's biggest shareholders are Belgrade-based Farmaholding (23%) and Inveholding (22%).