JSC GALENIKA for production of medicines, dentals, antibiotics,

pharmaceutical raw materials, pharmaceuticals, veterinary products and

additives, BEOGRAD
GENERAL INFORMATION

Basic company data

Full legal name :

JSC GALENIKA for production of medicines, dentals, antibiotics,

pharmaceutical raw materials, pharmaceuticals, veterinary products
and additives

Identification number:

07726325

Full address :

Belgrade, Batajnicki drum B.B.

Foundation year :

April 30,1991

Director :

ivomir Novakovi, Acting Director

Contact person :

Bojan Radovi

Number of employees :

1,532

Phone number :

011/307-1000

Fax number :

011/2616-306

E-mail address :

kabinet@galenika.rs, bradovic@galenika.rs

Quality assurance certificate ISO 9001

Company owns quality assurance certificate ISO 9001.

Ecology
According to applicable regulations, the requirements for environment protection are fulfilled.

Distance from the company (km) to :

Distance from
Belgrade

Distance (km)
11

Regional Center
Main road

11

Port

Railway

Capital structure (in %)

Capital structure

% of share in
the total capital

Shareholders' fund

15.02

Republic of Serbia

70.00

Other

14.98

Associated legal entities :

Share of other legal entities in company's equity
Company name

Identification
number

Form of
association

Share of the company in other legal entities' equity

% of share
in total
capital

Republic of Serbia

Company name

Identification
number

Form of
association

% of share
in total
capital

70.00

Galing doo Zemun

07725949

100.00

Shareholders fund

15.02

Galenika Banja Luka doo, Republika

Srpska

11056598

100.00

shareholders

14.98

Galenika Crna Gora doo

02255430

75.00

Galenika Klirit doo Zemun

07725515

100.00

Main equipment

Name
Vacuum processor roto cube 600 NSP0M22
Strip packing machine NSM0P07
System for PW production and distribution

Estimated state

Year of
production

granulation, mixing and drying

excellent

2010

115,000

115,000

2010

95,000

95,000

packaging of tablets in strip

Purchase value
(in 000 RSD)

Amortized
value
(in 000 RSD)

Type and purpose

Current value
(in 000 RSD)

PW production and distribution

excellent

2010

92,000

92,000

BOILER IV FABR.BR.214

Steam production

good

1983

75,000

75,000

BOILER I FAB.BR.237

Steam production

excellent

1983

75,000

75,000

granulation, drying

excellent

2010

74,000

74,000

Filming machine 500 NFC0M24

tablet filming

excellent

2010

70,000

70,000

Filming machine 500 NFC0M25

tablet filming

excellent

2010

70,000

70,000

granulation, drying

excellent

2010

69,000

69,000

aut. warehouse management

excellent

2010

66,000

66,000

Installations for the production and distribution

66,000

66,000

Pilot granulation equipment roto cube

60,000

60,000

Fluid dryer GHIBLI400 EX NFB0M21

Fluid dryer GHIBLI 400 NFB0M19

Equipment aut. mag. MECALUX NWSOSO3

Blister machine TR200 NBM0P03

blister tablets packaging

excellent

2010

60,000

60,000

machinery for sugar-coating GS 600 NSC0M28

sugar tablet coating

excellent

2010

58,000

58,000

machinery for sugar-coating GS 600 NSC0M29

sugar tablet coating

excellent

2010

58,000

58,000

machine for tablet. SYNTHSYS 500 NTM0M32

tabletting

excellent

2010

56,000

56,000

machine for tablet. SYNTHSYS 500 NTM0M33

tabletting

excellent

2010

56,000

56,000

blister tablets packiging

excellent

2010

55,000

55,000

tablets packiging

good

1998

52,000

52,000

50,000

50,000

Blister machine TR200 NBM0P09

Blister packaging UHLMAN
LIBRA-company's central computer
Steamer BKG-150 WITH EQUIPMENT no.5

Steam production

good

1975

45,000

45,000

Steamer BKG-150 WITH EQUIPMENT no.3

Steam production

out of use

1975

45,000

45,000

granulation, mixing

excellent

2010

45,000

45,000

44,000

44,000

Mixer VORTEX 800 EX NHM0M21

active equipment SAGA
MONITORING CONTROL SYSTEM

monitoring and measuring

excellent

2010

43,000

43,000

STEAM BOILER T-114-1980 FB-7100

Steam production

good

1980

42,000

42,000

Blister packaging UHLMANN

tablets packiging

good

1998

42,000

42,000

granulation, mixing

excellent

2010

42,000

42,000

capsulation

excellent

2010

40,000

40,000

Strip box packaging

excellent

2010

40,000

40,000

selection and inspection of tablets

excellent

2010

38,000

38,000

boxing A83 NCM0P15

Blister box packaging

excellent

2010

28,000

28,000

boxing A83 NCM0P19

Blister box packaging

excellent

2010

28,000

28,000

automatic washing and drying cont.

excellent

2010

28,000

28,000

28,000

28,000

Mixer VORTEX 800 NHM0M19

Capsule filling ZANUSI NCF0M37
strip packaging NCM0P19
MACHINE FOR INSPECTION NSIOM43

Cabin washing and drying cont. NCW0T18

Tablets coater Labcoat II
Machine for tabletting PT3090IC NO187FETTE

tabletting

good

1998

25,000

25,000

Machine for tabletting FETTE PT3090IC 191

tabletting

good

1998

25,000

25,000

23,500

23,500

Washing systems
MACHINES FOR LABELING
Packaging line

labeling of ampoules and bottles

excellent

2011

19,000

19,000

packing of tablets in bottles

excellent

2010

17,000

17,000

16,000

16,000

Digital telephone exchange N.Location

washer and dryer VENUS NEWM03
bow for syrup NSS0M30

automatic washing and drying of

equipment

excellent

2010

14,500

14,500

production of sugar syrup

excellent

2010

13,000

13,000

packaging machine CP18 NCM0P15CA01

packaging

excellent

2010

13,000

13,000

packaging machine CP18 NCM0P15CA02

packaging

excellent

2010

13,000

13,000

packaging machine CP18 NCM0P15CA03

packaging

excellent

2010

13,000

13,000

packaging machine CP18 NCM0P15CA04

packaging

excellent

2010

13,000

13,000

machine for bulk packaging MS300 NCM0P15CS03

packaging

excellent

2010

11,500

11,500

machine for bulk packaging MS300 NCM0P19CS04

packaging

excellent

2010

11,500

11,500

11,000

11,000

Pipelines with monometers

microdosing line

powder filling of bottles

excellent

1998

11,000

11,000

dry granules grinder

excellent

2010

11,000

11,000

automatic equipment washing

excellent

2010

10,000

10,000

dry granules grinder

excellent

2010

10,000

10,000

automatic equipment washing

excellent

2010

10,000

10,000

packaging

excellent

2010

9,500

9,500

8,500

8,500

starting materials grinding

excellent

2010

8,500

8,500

power supply in case of break

excellent

2010

8,000

8,000

ICP-CES INSTRUMENT

7,500

7,500

Centra UPS system

7,500

7,500

Dry granules grinder EX NMD0M21

WIP unit NWU0M19
Dry granules grinder NMD0M19
WIP unit NWU0M21
machine for bulk packaging MS300 NCM0P17CS05
Lyophiliser TIP LYCFLEX 04 MILLING DRYER
STATION NVS2W10
DIESEL GENERATOR

wet granules grinder NMW0M19

wet granules grinder

excellent

2010

7,000

7,000

wet granules grinder EX NMW0M21

wet granules grinder

excellent

2010

7,000

7,000

vertical transport of containers

excellent

2010

7,000

7,000

Grinder for dry granules EX NMD0M22

dry granules grinder

excellent

2010

7,000

7,000

MOBILE CRANE FOR IBC Ex NMLA001

containers transport

excellent

2010

7,000

7,000

MOBILE CRANE FOR IBC NMLB001

containers transport

excellent

2010

7,000

7,000

MOBILE CRANE FOR IBC NMLB002

containers transport

excellent

2010

7,000

7,000

ampoules lyophilization

out of use

1978

6,500

6,500

automatic equipment washing

excellent

2010

6,500

6,500

6,200

6,200

Crane for container transport MZANIN NLCOM48

lyophilization plant
WIP unit NWU0M22
Device for high efec. tec. chromatography
BLENDER FOR BARRELS NDB2W32
MOBILE CRANE FOR TBL.KONT.NMLC001
Equipment for prod. and dist. of energy

barrels mixing

excellent

2010

6,000

6,000

containers transport

excellent

2010

6,000

6,000

production and distribution of

energy

good

1985

5,500

5,500

5,500

5,500

cooling water for air conditioning

good

2007

5,500

5,500

5,500

5,500

Computer networks -General Ekonomik

CHILLER BR.2 PRZ500.2, N08907 / 2
VIDEO SURVEILLANCE
Weight check machine GARVENS NCM0P15CW03

weight check of unit packs

excellent

2010

4,400

4,400

Weight check machine GARVENS NCM0P19CW04

weight check of unit packs

excellent

2010

4,400

4,400

Tool for BRUFEN 30X600MG

tool for product packaging

excellent

2011

4,000

4,000

Tool for BRUFEN 30X400MG

tool for product packaging

excellent

2011

4,000

4,000

Special tool for BRUFEN 200 MG

special supplement tool for

packaging

excellent

2012

3,500

3,500

vertical transport of containers

excellent

2010

3,300

3,300

Cranes for cont. trans. NBMOP04LC05

LAND AND BUILDINGS

Land
Usage mode
Cadastre Building
and cadastre
lot
no.
class

Name of land

Gazette 737 + Gazette 12 179/34

Surface
(m)

Type of land Type of right

Type of
Share
ownership volume

322,449

urban
development
land

100%

579

urban
development
land

100%

DENT-M.Gavrilovica
5a79m2(579m2)

406

VETSERUM 1HA
83A19M2(18.319M2)

174/1

18,319

urban
development
land

100%

400-81/99
165/1
1HA62A84M2(16.284M2)

16284

urban
development
land

100%

4,039

urban
development
land

100%

NOVA VAROS 1.303M2 748

1,303

urban
development
land

100%

165/1 20 Acres

165/1

2,000

urban
development
land

100%

KP.3703/02 816M2
G.DELCEVA

3703/02 sada
6521

799

urban
development
land

100%

KP.3703/01 674 M2
D.TUCOVIC

3703/01 sada
6522

654

urban
development
land

100%

108,270

urban
development
land

100%

8,074

urban
development
land

100%

NOVA VAROS 4.039M2

1132/1,1133
/1,1134/5

by verdict no.48-P-13750 324/1,324

(106.436m2)
/35,324/36
Babusnica (8.074M2)

851/1

Encumbrance

Encumbrance
entry date

Buildings

Name of building

Cadastre
lot

Building
no.

Usage mode
Surface
and cadastre
(m)
class

Land
surface
under
building
(m)

Type of
land

Type of Type of
Share
right ownership volume

Nova Varos operation

748

chemical
Zivka Ljujica
industry
33
building

710.00

233.00

100%

Nova Varos - raw materials

warehouse

1134/3

chemical
Zivka Ljujica
industry
33
building

213.00

213.00

100%

Nova Varos - raw materials

warehouse

1132/1
1133/1
1134/5

chemical
Zivka Ljujica
industry
33
building

250.00

250.00

100%

sve parcele
New location - infrastructure
na novoj
- water supply NFL
lokaciji

Batajnicki
drum

4,021.00

4,021.00

100%

New location - infrastructure

513/4 513/5
external nfl

Batajnicki
drum

1,291.00

1,291.00

100%

New location - infrastructure

513/4 513/5
SEWAGE NFL

Batajnicki
drum

10,546.00 10,546.00

100%

New location - tech. serv. w

tecn. infrastr

Batajnicki
drum

513/11

chemical
industry
building

972.00

1,013.00

100%

Encumbrance

Encumbrance
entry date

13.12.2008

New location -new factory NFL

513/5 513/4

Batajnicki
drum

chemical
industry
building

35,285.00 24,611.00

100%

13.12.2008

New location - Building

BLOCK C - High part

324/23

Batajnicki
drum

chemical
industry
building

2,533.00

100%

13.12.2008

New location - admin.

building

516/60

Batajnicki
drum

chemical
industry
building

14,132.00 1,349.00

100%

13.12.2008

M. Gavril - dental warehouse 406

Milorada
Gavrilovica
10

chemical
industry
building

114.00

114.00

100%

27.03.2013

M. Gavril -OPERATIONAL
BUILDING II category

406

Milorada
Gavrilovica
10

chemical
industry
building

1,225.00

257.00

100%

27.03.2013

new. loc. - recuperation

building

324/1 324/15

Batajnicki
drum

chemical
industry
building

916.00

230.00

100%

13.12.2008

new loc - antibiotic materials

324/24
warehouse

Batajnicki
drum

chemical
industry
building

468.00

468.00

100%

13.12.2008

new loc - facility for

semisynthetic penicillin

324/25

Batajnicki
drum

chemical
industry
building

1,492.00

426.00

100%

13.12.2008

new loc -QUALITY

CONTROL, VETERINARY
MEDICINE INSTITUTE, EX 324/37
OPERATION OF
ANTIBIOTICS

Batajnicki
drum

chemical
industry
building

3,623.00

2,294.00

100%

new loc - extern infrastruc.

324/1

Batajnicki
drum

260.00

260.00

100%

new loc -PROTECTIVE

CONCRETE TANK

324/1

Batajnicki
drum

152.50

152.50

100%

new loc -neutralization of

packaging station

324/33

Batajnicki
drum

chemical
industry
building

200.00

195.00

100%

13.12.2008

WORKSHOPS (compressor
324/13
hall with substation)

Batajnicki
drum

chemical
industry
building

255.00

povrina
data uz
WG004045

100%

13.12.2008

new loc.- the synthesis 1

324/22

Batajnicki
drum

chemical
industry
building

3,546.00

1,041.00

100%

13.12.2008

new loc.- Warehouse

flammable material

513/5 324/1

Batajnicki
drum

912.00

912.00

100%

13.12.2008

new loc.- Warehouse

flammable material

513/5 324/1

Batajnicki
drum

580.00

580.00

100%

13.12.2008

New loc - patching unit

324/10

Batajnicki
drum

chemical
industry
building

2,158.00

2,242.00

100%

13.12.2008

new loc - restaurant

516/58

Batajnicki
drum

chemical
industry
building

1,615.00

1,535.00

100%

13.12.2008

new loc - dentals - warehouse 324/17

Batajnicki
drum

chemical
industry
building

1,307.00

650.00

100%

13.12.2008

VETS- Warehouse and

expeditions

174/1

Batajnicki
drum

2,074.00

2,074.00

100%

OFFICE BUILDING
SARAJEVO 300.6

Zmaja od
posedujemo Bosne ,
kupoprodajni naselje,
ugovor
Novo
Sarajevo 1

300.65

300.65

100%

OFFICE BUILDING
ZAGREB 346m2

2770

Draskoviceva
34

346.00

346.00

100%

VETS- BARRACK 2 ADMINISTRATION

174/1

Batajnicki
drum

120.00

120.00

100%

VETS- BARRACK 3 WAREHOUSE

174/1

Batajnicki
drum

413.00

413.00

100%

VETS- BARRACK 4 WAREHOUSE

172/1

Batajnicki
drum

443.00

443.00

100%

VETS- BARRACK 5 WAREHOUSE

174/1

Batajnicki
drum

594.00

594.00

100%

847.00

sve parcele
new loc. - roads, plateaus and
na novoj
parking
lokaciji

Batajnicki
drum

new loc - energy sector

324/28

Batajnicki
drum

new loc
-INFRASTRUCTUREEXTERIOR LIGHTING

sve parcele
na novoj
lokaciji

Batajnicki
drum

new loc sve parcele

infrastruc.UNDERGROUND na novoj
TELEPHONE CABLE
lokaciji

Batajnicki
drum

new loc BOILER ROOM

324/6

Batajnicki
drum

new loc -exchanger stations

324/5

75,000.00 75,000.00
chemical
industry
building

100%

354.00

180.00

100%

3800 m
(180
stubova
225
svetiljki)

3800 m
(180
stubova
225
svetiljki)

100%

13.12.2008

12,920.00 12,920.00

100%

chemical
industry
building

1,480.00

1,009.00

100%

13.12.2008

Batajnicki
drum

chemical
industry
building

160.00

140.00

100%

13.12.2008

new loc - crude oil warehouse 324/7,324/8

Batajnicki
drum

chemical
industry
building

5,000.00

5,000.00

100%

13.12.2008

new loc - infrustr. cables

sve parcele
na novoj
lokaciji

Batajnicki
drum

5,000.00

5,000.00

100%

VETS- Danube pumping

station

172/1

Batajnicki
drum

141.00

141.00

100%

VETS- building with

transformer station

172/1

Batajnicki
drum

1,342.00

1,342.00

100%

VETS- Filter building

172/1

Batajnicki
drum

1,713.00

1,713.00

100%

Kragujevac representative
office 253.28m2-floor

922/1

Radoja
Domanovica
12

253.28

253.28

100%

Lower part Block C area

2.398 m2

324/1

Batajnicki
drum

2,600.00

2,600.00

100%

Building D. Tucovica 35
KP.3703/01 986

3703/1

Dimitrija
Tucovica,
Nis

1,124.16

1,124.16

100%

Garage G. Delceva 1
KP.3703/2

3703/2

Goce
Delceva, Nis

160.13

160.13

100%

BARRACK OFFICE 21x13,

273m2

513/5

Batajnicki
drum

273.00

273.00

100%

VETS - warehouse 10

174/1

Batajnicki
drum

176.00

176.00

100%

VETS - warehouse 11

174/1

Batajnicki
drum

132.00

132.00

100%

VETS - warehouse 12

174/1

Batajnicki
drum

297.00

297.00

100%

VETS - warehouse fence

174/1

Batajnicki
drum

870.00

870.00

100%

new loc - preparation

workshops and transport

324/27

Batajnicki
drum

2,146.00

2,294.00

100%

13.12.2008

new loc - stations for fire

protection

324/18

Batajnicki
drum

710.00

605.00

100%

13.12.2008

New loc - Library

516/11 516/1

Batajnicki
drum

445.00

413.00

100%

Novi Sad representative office

5138/6
163,35 m2

Rumenacka
15

163.35

163.35

100%

Nis representative offices

116.39 m2

911/2 1740/3

Strahinjica
bana 3

116.39

116.39

100%

new loc- infrastruc. Access

roads NFCFP

513/12

Batajnicki
drum

2,250.00

2,250.00

100%

new loc - factory of solid

pharmaceutical forms

513/12

Batajnicki
drum

8,500.00

8,500.00

100%

chemical
industry
building

chemical
industry
building

13.12.2008

13.12.2008

13.12.2008

SUPPLY
Liability structure
Debt (in 000
RSD)

Creditor
Commercial creditors

2,831,772

Commercial banks

12,409,622

Banks in banktrupcy

Development Fund

350,641

Public utility companies

1,478,025

Local utility companies

32,869

Other state creditors

Liabilities to employees

304,292

Tax liabilities relating to employees

110,045

Contributions

433,003

Other tax liabilities

166,406

Other liabilities

5,846,418
TOTAL :

23,963,093

PRODUCTION AND CAPACITY

Realized production of the main products (in quantity and v alue)
Quantity
Product/service

Value in 000 RSD

Unit

2011

2012

2012

2011

medicaments

pack

30,994,134

34,552,815

30,393,848

2012

2013

4,871,418

5,936,229

5,317,610

dental products

pack

177,990

127,387

pharmaceutical raw materials

pack

98,335

139,353

87,784

84,179

100,023

51,776

31,021

10,270

6,514

pharmaceutical products

pack

2,065,665

1,602,490

6,400

940,550

396,303

175,562

53,905

Capacity utilization
% of utilization
Unit

Installed
capacity

Real capacity

2011

2012

Tablets, capsules, FCFP

Pa

70,000,000

52,500,000

21.25

30.30

Tablets, capsules, FCFP (from 2013)

Pa

70,000,000

40,100,000

Ampoules, Solutions, FL

Pa

5,700,000

3,854,544

52.11

42.21

Secondary packaging of ampoules, FL

Pa

broj radnika

5,000,000

26.49

66.55

Secondary pack amp. FL (since 2013)

Pa

broj radnika

3,000,000

Syrups, FL

Pa

5,000,000

4,000,000

34.05

33.73

Syrups, FL (since 2013)

Pa

5,000,000

2,500,000

The medical ointments, gels, creams, FL

Pa

12,368,600

11,000,000

38.71

44.81

The medical ointments, gels, creams, FL - since

2013

Pa

12,368,600

10,000,000

Tablets, FL (restructured in 2011 on a campaign

production)

Pa

21,000,000

8,000,000

Tablets, FL (from 2013 on a campaign

production)

Pa

21,000,000

3,000,000

Packaging of tablets restructured, FL

Pa

broj radnika

6,800,000

Packaging of tablets restructured, FL (since

2013)

Pa

broj radnika

3,000,000

Dental alloys, FD

caps

2310000

2200000

Dental alloys, FD

kg

16000

16000

0.48

1.19

Acrylic teeth, FD

gar

250000

230000

15.12

15.85

Acrylic teeth, FD (since 2013)

gar

250000

132000

Dental powders, FD

kg

100000

100000

11.90

6.16

1.44

Dental paste, FD

kg

18500

18500

3.12

2.82

0.02

115500

115500

1.54

0.60

0.78

Dental waxes and thermoplastic

kg

37000

22000

9.95

2.38

3.67

Dental cements, FD

kg

8800

8800

19.36

10.37

18.26

Secondary packaging, FD

Pa

broj radnika

100000

11.01

24.66

5.41

Patches and technical tapes, FPF

Pa

5,200,000

5,200,000

23.89

9.61

3.19

Nutrient preparations FPF

Pa

5,300,000

5,300,000

9.97

14.23

Nutrient preparations FPF

Pa

5,300,000

4,400,000

Tablets and sugar-coated tablets, FPF

Pa

1,600,000

1,600,000

16.18

17.15

Capsules, FPF

Pa

100,000

100,000

30.00

18.41

Capsules, FPF (since 2013)

Pa

100,000

75,000

Purified water, FFS

kg

300,000

300,000

31.45

43.08

Diagnostic chemicals, FFS

kg

3,000

3,000

43.33

20.00

4.67

Inorganic solutions, FFS

kg

420,000

420,000

13.81

15.95

7.86

Lubricating agents, FFS

kg

30,000

30,000

2.05

Organic solvents, FFS

kg

160,000

160,000

8.93

3.36

10.08

Brewer's yeast with oligo elements, FFS

kg

5,000

5,000

22.60

Enzymes, FFS

kg

120,000

120,000

Hormones, FFS

kg

15

15

7.75
1.97

Machine (Production line)

Dental solutions, FD

Extracts, FFS

kg

6,000

6,000

Disinfectants, FFS

Pa

broj radnika

50,000

2013

42.15
32.57
59.82
39.51

53.95
98.45

40.22
50.13

44.97

46.67
86.02

0.76
23.94

14.29
7.32
34.86

0.79
2.60

4.60

74.40

7.00

REALIZATION
Mov ement in sales v olume
Quantity sold
Product/service

Unit

Value in 000 RSD

2011

2012

2013

AMIKACIN im.iv.inf. 10x500 mg/2ml

27,354

31,572

14,160

42,549

47,958

24,006

AMLOGAL tbl.20x10 mg

80,230

99,656

59,489

20,113

23,596

13,125

AQUA REDESTILATE 50X5 ml

21,130

34,339

52,888

20,797

51,509

79,332

BACTRIM tbl.20

336,341

219,928

426,449

48,568

31,758

67,746

BEDOXIN tbl.20x20 mg

348,752

623,560

377,840

17,554

31,294

21,333

BENSEDIN inj.10x10 mg

48,176

134,302

92,944

10,454

29,144

25,827

BENSEDIN tbl.30x10 mg

489,729

743,851

597,083

43,381

65,905

71,471

BENSEDIN tbl.30x5 mg

878,842

1,865,033

1,680,090

58,267

123,652

156,879

BEVIPLEX amp5x3,5mg

75,668

112,606

62,566

23,877

35,201

24,800

CHLORAMPHENICOL ointment

373,673

632,147

372,648

28,645

48,000

49,762

CORNILAT tbl.20x20 mg

184,193

299,114

387,656

13,965

22,254

31,686

DACTANOL cream

166,592

200,523

268,714

29,831

35,527

51,519

DACTANOL orl.gel

143,447

245,226

239,551

29,470

45,673

50,501

DAMATON R tbl.20x400 mg

14,520

152,029

485,416

2,256

24,263

82,698

208,564

330,160

27,500

46,881

DEFRINOL FORTE tbl.30

2011

2012

2013

DEXAMETHASON NEOMYCIN kapi

413,685

422,873

523,555

39,193

39,200

101,271

DEXASON inj.25x4mg

66,784

104,144

124,694

42,249

64,028

85,784

DIDERMAL cream

116,370

145,180

158,911

20,158

21,736

30,638

DIDERMAL gel

97,684

159,480

150,293

17,662

29,708

29,173

44,307

123,061

10,581

32,267

DIKLOFEN DUO
DIKLOFEN FORTE film tbl.20x50 mg

199,200

335,151

255,032

13,963

23,025

19,149

DIKLOFEN inj.5x75 mg

213,961

289,009

327,190

21,892

28,785

36,804

DIKLOFEN RETARD tbl.20x100 mg

693,815

702,034

592,433

116,437

116,046

99,379

DOVICIN caps5x100 mg

835,516

458,669

540,048

42,572

22,750

36,262

ENBECIN gel

124,204

282,726

181,264

7,258

17,548

16,859

FARIN tb.50x5 mg

318,385

415,845

654,544

38,771

49,527

86,651

FLORMIDAL tbl.30x15 mg

85,588

143,636

97,154

56,719

95,188

70,551

GENTAMICIN inj.10x120000ij

102,790

92,091

68,093

63,529

56,921

47,066

GENTAMICIN inj.10x80000ij

51,334

48,856

44,035

21,157

20,129

20,298

GENTAMICIN gel

187,475

270,262

325,779

23,658

36,152

38,446

GLAUMOL drops

202,633

365,751

360,229

32,842

45,492

49,598

GLIORAL tbl.30x80 mg

432,783

631,965

396,071

72,804

104,780

72,272

GYNO DACTANOL

59,360

138,640

135,221

13,978

31,785

37,005

HEPARIN inj.10x25000 /5ml

12,489

28,067

34,110

27,903

72,974

99,741

HYDROCYCLIN gel 20 g

77,912

86,961

150,537

13,171

16,418

30,890

HYDROCYCLIN gel 5 g

256,979

336,896

351,567

17,593

25,606

22,600

KATOPIL tbl.40x25 mg

145,531

180,648

234,727

33,062

30,891

32,832

KATOPIL tbl.40x50 mg

26,275

27,046

63,481

10,233

9,250

18,456

KLOMETOL inj.10x100 mg

90,955

105,959

87,162

9,825

12,906

14,639

KLOMETOL tbl.30x10 mg

251,178

407,398

412,857

21,852

35,444

54,488

KSALOL tbl.30x0.25 mg

381,479

569,954

661,074

28,580

42,283

52,982

KSALOL tbl.30x0.5 mg

552,463

993,770

857,033

67,168

120,346

114,886

KSALOL tbl.30x1 mg

331,800

408,898

498,356

57,895

70,494

93,527

LARGACTIL tbl.50x25 mg

121,974

321,825

270,398

12,448

32,483

26,944

LEGRAVAN film tbl.21

77,178

124,788

100,970

18,015

27,307

17,155

LIDOKAIN HLORID 2% inj.50x40mg

35,047

25,674

21,033

24,852

18,216

21,975

LOMETAZID tbl.30

168,395

393,773

383,522

20,708

48,237

52,715

LONGACEPH inj,10x1 g

41,087

31,365

30,124

145,787

99,411

90,745

MADOPAR tbl.100x250 mg

79,744

36,356

60,872

152,219

60,461

113,209
48,381

NOVALGETOL inj.5x2.5

24,337

47,331

37,069

24,097

45,651

OHB 12 inj.50x2500mg

110,950

316,262

241,777

34,001

101,805

87,453

ORVAGIL inf.rast.500 mg

254,486

802,885

578,237

53,546

162,183

131,366

ORVAGIL tbl.20x400 mg

186,190

228,219

211,183

34,430

42,243

42,881

PALITREX caps.16x500 mg

886,430

1,262,731

1,173,478

201,814

284,493

293,148

PALITREX syrup

108,094

282,823

181,735

17,244

43,838

31,836

PENTREXYL caps.16x500 mg

333,299

763,990

174,477

42,395

96,464

27,313

PIPEGAL caps.

165,363

252,622

239,353

43,509

63,686

77,851

PRILAZID tbl.30x2.5 mg

177,509

144,181

238,863

71,677

55,841

98,670

PRILAZID PLUS

90,896

254,912

116,585

72,070

186,060

92,822

PRILAZID tbl.30x5 mg

150,223

214,393

153,965

107,658

147,888

112,793

PRINORM tbl.14x100 mg

235,700

523,409

411,687

21,571

47,683

41,311

PRONISON tbl.20x20 mg

231,362

234,644

192,040

44,140

43,714

50,975

PROPRANOLOL tbl.50x40 mg

275,184

475,506

381,679

26,521

45,363

39,977

RIVOTRIL tbl.30x2 mg

522,911

497,646

660,462

81,762

76,016

103,429

SINACILIN caps.16x500 mg

638,695

913,182

851,927

79,878

112,230

116,076

SINACILIN syrup

433,207

365,992

427,285

40,211

33,561

48,177

SINODERM gel

87,449

150,994

130,030

8,983

15,064

14,516

SINODERM cream

134,506

229,564

233,225

9,494

15,909

17,436

SINODERM mast

215,140

349,413

314,049

15,194

26,511

23,554

SINODERM N gel

113,226

98,883

183,484

10,802

7,571

18,563

Spalmotil solution inh.10ml

139,980

64,958

84,945

16,798

8,823

16,742

SPALMOTIL syrup

67,040

123,851

102,480

12,023

21,703

20,191

SPALMOTIL tbl.60x2mg

139,898

200,563

236,935

22,196

31,164

41,333

SPIRONOLAKTON tbl.30x100 mg

60,626

89,023

121,688

29,054

42,286

64,801

SPIRONOLAKTON tbl.40x25 mg

384,701

368,458

386,785

72,233

67,317

92,749

TEFOR tbl.30X500 mg

646,240

484,343

519,236

48,066

35,987

41,738

TESTOSTERON DEPO inj.5x250 mg/1ml

221,437

268,417

157,241

119,960

172,136

113,185

TIVORAL tbl.50x0.1 mg

102,510

160,897

187,880

9,407

14,642

27,729

VITAMIN C inj.50x500mg/5ml

17,269

35,103

24,547

19,515

38,361

40,510

BEVIPLEX N drag

756,437

1,184,956

1,049,986

105,901

165,894

146,996

CHYMORAL gast.rez tbl.

118,180

210,183

232,279

50,817

90,379

99,880

DEFRINOL tbl.20

511,760

337,310

347,486

107,470

70,835

72,972

DIMIGAL tbl.10x500 mg

82,617

193,091

189,670

16,523

38,618

37,934

DIGESTAL gast.rez.tbl.

74,129

180,882

83,082

14,826

49,680

24,509

DIKLOFEN gel

40,300

93,190

87,730

7,456

18,248

17,458

FLONIVIN BS

18,380

109,121

76,460

4,619

27,422

19,214

HEPALPAN gel

38,040

22,388

93,403

8,749

5,149

28,021

OLIGOVIT drag.

213,980

433,598

446,582

44,936

99,322

116,111

OLIGOGAL Se

214,831

344,535

249,963

45,115

72,352

52,492

JECODERM gel

119,785

234,540

196,370

14,374

29,821

25,936

SANT E Gal

161,544

187,608

118,280

33,924

43,524

30,753

PARACETAMOL syrup

140,470

208,034

233,000

21,071

31,205

34,950

PANTHENOL cream

427,564

376,198

420,940

40,619

46,100

54,722

PANTHENOL sol.100 ml

99,199

127,138

150,312

12,896

18,385

22,547

PANTHENOL gel

150,333

228,070

163,908

14,733

24,100

18,030

PANTHENOL orib.a 20

147,946

216,574

121,315

19,233

28,155

15,771

BIOGAL PLUS teeth a 28

39,004

25,644

23,804

29,625

17,715

18,567

GINGIVAL gel

120,973

112,543

160,552

8,637

8,169

12,523

ORVAGIL D tbl.20x400 mg

62,094

52,876

58,090

9,766

9,079

12,094

LIDOKAIN ADRANALIN inj.50x2ml

13,419

22,070

27,253

9,207

13,579

23,579

3,706,626

5,173,266

5,427,388

TOTAL :

Sales structure
Sales structure in %
Domestic market
Foreign market
TOTAL :

2011

2012

2013

84.00

84.00

87.00

16.00

16.00

13.00

100.00

100.00

100.00

Distribution channels
Distribution channels

% of share

Direct sale
Wholesale
Retail
Intermediaries

100.00

ORGANIZATION, MANAGEMENT AND EMPLOYMENT

Number of employees
Working

1,448

Paid leave

10

Unpaid leave

Other (sick leave,

vacation, etc.)

Total number of
employees

1,460

Age structure of employees

Age

-25 25-35 35-40 40-45 45-50 50-55 55+

Number

337

215

203

284

274

139

Av erage salaries (gross and net) in 2011, 2012 and 2013

Year

Gross

Net

2011

77,839.00

55,441.00

2012

79,187.00

56,450.00

2013

74,152.00

53,064.00

SWOT ANALYSYS
Strengths:

Recognizable brand in Serbia and the former Yugoslav countries, traditional

presence in the Eastern European markets, a wide variety of medicines, experience
and expertise in manufacturing, quality products

Opportunities:

Modern factory for production of solid pharmaceutical preparations, high capacity

and ability of service production to other pharmaceutical companies, ensuring
international GMP certification which will allow penetration into new markets, the
development of pallets dental and medical devices

W eakness:

Lack of GMP certification, drug prices are controlled by the state and are not
aligned with the prices of inputs, outdated production program

Threats:

Illiquidity caused unavailability of products and the weakening position in the

domestic and international markets where the company is traditionally present, high
debt to payables, as well as to banks

FINANCIAL INDICATORS
BALANCE SHEET (in RSD 000)
31/12/2011
Cash and cash equivalents
Short-term operating receivables
Receivables from overpaid income tax
Short-term financial investments
Inventories
Non-current assets intended for sale and assets related to discontinued operations
VAT and accrued revenues
Deffered tax assets
Current assets
Subscribed capital unpaid
Goodwill
Intangible assets
Fixed assets
Long-term investments
Non-current assets

31/12/2012

31/12/2013

316

639

1,005

7,873

13,003

6,360

65

58

861

432

856

39,959

21,517

12,082

4,911

3,747

512

53,986

39,396

20,815

2,465

1,834

1,576

132,916

120,030

121,109

6,347

5,806

2,971

141,727

127,670

125,657

Loss above equity

45,711

73,881

TOTAL ASSETS

195,712

212,776

220,353

Off-balance sheet assets

99,819

96,015

44,254

Suppliers (Accounts payable)

44,247

39,818

37,880

Short-term finacial liabilities

73,647

41,418

36,740

6,311

3,831

3,403

7,428

5,481

14,302

Liabilities from VAT and other public revenues

Liabilities based on assets intended for sale and assets related to suspended operations
Other short-term liabilities and accrued costs
Profit tax liabilities

131,635

90,548

92,325

Long-term borrowings

33,398

111,170

82,307

Deffered tax liabilities

4,023

8,261

8,995

34,393

33,398

111,170

116,700

4,784

2,797

2,333

Total long-term provisions and liabilities

169,817

204,515

211,358

Initial and other capital

101,108

93,037

92,287

487

448

444

Total short-term liabilities

Other long-term liabilities

Total long-term liabilities
Long-term provisions

Subscribed capital unpaid

Reserves
Revaluation reserves

55,249

46,069

56,287

Unrealized gains based on securities

Unrealized losses based on securities

4,253

4,114

4,293

139,224

143,668

153,311

21,872

195,712

212,776

220,353

99,819

96,015

44,254

Retained earnings
Loss
Treasury shares
Total equity
TOTAL EQUITY AND LIABILITIES
Off-balance sheet liabilities

INCOME STATEMENT (in RSD 000)

2011
Sales revenue
Revenues from the use of own products and services

2012

2013

39,323

41,408

40,139
142

119

108

Increase of value of effects on stock

7,849

350

240

Decrease of value of effects on stock

1,064

5,139

4,529

Other operating expenses

OPERATING INCOME

314

2,302

2,496

46,540

39,030

38,488

Cost of goods sold

2,058

1,183

120

Costs of materials

24,138

21,363

18,397

Wages, salaries and other personal indemnities

30,118

25,374

20,270

Depreciation costs

7,987

4,565

5,365

Other operating expenses

7,677

10,396

5,433

OPERATING EXPENSES

71,979

62,881

49,585
-11,097

OPERATING PROFIT/OPERATING LOSS

-25,439

-23,851

Financial incomes

12,017

17,414

7,725

Financial expenses

24,524

33,343

27,378

Other incomes
Other expenses
PROFIT/LOSS FROM REGULAR BUSINESS OPERATIONS BEFORE TAXATION
NET PROFIT SUSPENDED
NET LOSS SUSPENDED
PROFIT/LOSS BEFORE TAXATION

6,768

5,678

2,325

100,962

11,597

15,832

-132,140

-45,699

-44,258

13

541

-132,681

-45,699

-44,245
0

Tax expenses for the period

Deffered tax expenses for the period

106

99

951

Deffered tax income for the period

Personal earnings paid to employer

-132,584

-45,805

-43,294

NET INCOME ATTRIBUTABLE TO THE MINORITY SHAREHOLDERS

NET INCOME ATTRIBUTABLE TO THE OWNERS OF THE PARENT LEGAL

ENTITY

Basic earnings per share

Decreased (diluted) earnings per share

NET PROFIT/NET LOSS

INCOME PER SHARE

CONSOLIDATED FINANCIAL INDICATORS

BALANCE SHEET (in EUR 000)
31/12/2011

31/12/2012

31/12/2013

Cash and cash equivalents

1,054

2,096

1,016

Short-term operating receivables

9,209

13,712

3,221

70

62

876

1,293

1,373

40,604

22,040

13,614

4,918

3,756

810

Receivables from overpaid income tax

Short-term financial investments
Inventories
Non-current assets intended for sale and assets related to discontinued operations
VAT and accrued revenues
Deffered tax assets
Current assets
Subscribed capital unpaid
Goodwill
Intangible assets
Fixed assets
Long-term investments
Non-current assets

11

56,730

42,959

20,035

1,331

4,113

3,481

3,224

142,018

128,530

129,117

138

92

156

147,600

132,103

132,497

Loss above equity

44,975

71,373

TOTAL ASSETS

204,341

220,037

223,904

Off-balance sheet assets

99,835

96,015

44,604

Suppliers (Accounts pazable)

45,540

36,588

38,010

Short-term finacial liabilities

77,295

46,012

30,395

6,370

3,872

3,490

8,247

6,907

16,242

Liabilities from VAT and other public revenues

Liabilities based on assets intended for sale and assets related to suspended operations
Other short-term liabilities and accrued costs
Profit tax liabilities

137,454

93,380

88,143

Long-term borrowings

35,410

113,053

89,960

Deffered tax liabilities

4,023

8,251

8,984

2,479

34,414

35,410

115,531

124,374

4,793

2,874

2,403

Total long-term provisions and liabilities

177,656

211,785

214,920

Initial and other capital

104,350

92,857

92,287

1,331

527

478

485

Total short-term liabilities

Other long-term liabilities

Total long-term liabilities
Long-term provisions

Subscribed capital unpaid

Reserves
Revaluation reserves

67,386

57,841

74,802

Unrealized gains based on securities

Unrealized losses based on securities

7,920

7,087

8,261

158,853

158,264

175,836

22,661

204,341

220,037

223,904

99,835

96,015

44,604

Retained earnings
Loss
Treasury shares
Total equity
TOTAL EQUITY AND LIABILITIES
Off-balance sheet liabilities

INCOME STATEMENT (in EUR 000)

2011
Sales revenue
Revenues from the use of own products and services

2012

2013

48,046

43,574

40,843
142

119

108

Increase of value of effects on stock

7,974

352

471

Decrease of value of effects on stock

1,156

5,224

4,624

Other operating expenses

OPERATING INCOME

585

2,388

4,130

55,568

41,198

40,961

Cost of goods sold

9,840

1,789

155

Costs of materials

24,524

21,964

18,971

Wages, salaries and other personal indemnities

32,219

27,487

21,911

Depreciation costs

8,538

5,169

5,849

Other operating expenses

7,870

9,761

5,233

OPERATING EXPENSES

82,991

66,170

52,118
-11,156

OPERATING PROFIT/OPERATING LOSS

-27,423

-24,972

Financial incomes

10,680

17,238

6,551

Financial expenses

25,169

33,597

27,626

Other incomes
Other expenses
PROFIT/LOSS FROM REGULAR BUSINESS OPERATIONS BEFORE TAXATION
NET PROFIT SUSPENDED
NET LOSS SUSPENDED
PROFIT/LOSS BEFORE TAXATION

6,839

6,602

2,710

101,045

11,431

15,792

-136,117

-46,159

-45,314

22

13

542

-136,659

-46,137

-45,301
11

Tax expenses for the period

Deffered tax expenses for the period

106

99

951

Deffered tax income for the period

Personal earnings paid to employer

-136,564

-46,244

-44,360

NET INCOME ATTRIBUTABLE TO THE MINORITY SHAREHOLDERS

NET INCOME ATTRIBUTABLE TO THE OWNERS OF THE PARENT LEGAL

ENTITY

Basic earnings per share

Decreased (diluted) earnings per share

NET PROFIT/NET LOSS

INCOME PER SHARE

LOCATION OF THE COMPANY

A) Information contain in this document is based on the data recieved from the company, and as such
has not been veryfied by the Privatization Agency. Accordingly, the Privatization Agency shall have no
liability with respect to the accuracy and validity of the information contained herein.
B) Pursuant to the law, enterprises from the Republic of Serbia were obliged as of 2004 to prepare
Financial Statements in accordance with the International Standards of Financial Reports (ISFR).
C) For the indicated periods, commercial exchange rate has deviated from the official exchange rate.
Commercial exchange rates used for calculating the above stated financial statements were as follows :
Income Statement was calculated by using the median annual exchange rate.
2013: 1EUR=113.1369 RSD; 2012: 1 EUR=113.0415 RSD; 2011: 1 EUR=101.95 RSD.

Balance Sheet was calculated by using the exchange rate valid on 31. december of the indicated year.
2013: 1 EUR=114.6421 RSD; 2012: 1 EUR=113.7183 RSD; 2011: 1 EUR=104.6409 RSD.