Stada CEO in Serbia for the first time: Events in Germany have nothing to do with investments here

The situation in Germany will not affect Stada's investments in Serbia, as long as the company is posting good results, says Stada Group CEO Peter Goldschmidt, addressing for the first time the public in Serbia.

Asked whether the current slowdown in the German economy and the danger of a crisis would affect other investments, he said that Germany is an important market for the company, but that it isn't the only one.

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He stated that the company is doing business successfully in the Balkans, but also in Russia.

"The 3 percent growth says that we are much better than our competitors in Germany, because we are among the top ten companies. Therefore our investments are not linked to that. This will be the case as long as the company is doing well, which the results clearly show. We will continue to invest in Serbia and other countries as long as that is the case," Goldschmidt said.

MILLIONS IN HEMOFARM

Stada Group, of which Serbia-based Hemofarm is a part, has achieved a sales growth of 11 percent in the first half of this year in Serbia - above Stada's industry average. The company plans to invest around 20 million euros in 2020 in its Serbian production, equal to the level of investments planned for this year.

When it comes to the market in Serbia and the region, Hemofarm last year produced 245 million boxes of medicines, or 5.6 billion pills, bottles and tubes. Production of 6.3 billion pills is expected this year, of which about 70 percent is destined for the European market.

Hemofarm CEO Ronald Seelinger pointed out that the company is a leader both Serbia and in Bosnia and Herzegovina when it comes to prescription drugs and OTC products, and since recently, he says, it has taken a leadership position in Montenegro as well.

Hemofarm's production facilities (five factories in total) are located in Serbia, Montenegro and in Bosnia and Herzegovina - Banja Luka in the Serb Republic, while the company also has a lab in Romania.

These factories produce 60 percent of all Stada's preparations, with 70 percent of production sold worldwide.

(Telegraf Biznis/V.B)