Serbia Extends Galenika Tender to Mid-June for Valeant Unit

Serbia extended its tender for the Galenika AD drug company for a fourth time, giving a unit of Canada’s Valeant Pharmaceuticals International Inc. (VRX) until June 14 to file a bid, the Finance Ministry said on its website.

The government first called for bidders on Jan. 15, seeking a partner among drugmakers with operating revenue of at least 200 million euros ($$259.5 million) in 2011.

Galenika cut its 2012 loss to 5.6 billion dinars ($65.2 million) from 13.5 billion dinars a year earlier.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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