Serbia to Start Sale of Galenika Drugmaker in Early 2013

Dec. 13 (Bloomberg) -- Serbia plans to start the sale of its drugmaker Galenika AD in early 2013, the government said in an e-mailed statement today.

The state may offer a stake in the Zemun, Serbia-based company to the European Bank for Reconstruction and Development, General Manager Zivomir Novakovic said on Oct. 30.

The company posted a loss of 122 million euros ($160 million) in 2011.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

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