Frontier Pharma and Baystone Group have reached an agreement with the company Teva about the purchase of the Zdravlje factory in Leskovac from it, the companies announced yesterday.
Baystone Group and Frontier Pharma have agreed to keep the employees at the factory for at least two years, announced Actavis, the regional representative of Teva for Serbia and Montenegro.
The Zdravlje factory in Leskovac produces solid and liquid forms for treating cardiovascular, neurological and respiratory diseases.
The factory has the authorization for the supply of numerous international markets, including West and East Europe, Great Britain, Australia, South America and Mexico.
Let us remind that, in March 2020, Teva announced that it was looking for a strategic partner for the factory in Leskovac. They announce now that Teva’s decision to sell Zdravlje is in line with the company’s global strategy of optimizing the overall competitiveness by harmonizing its production capacities with the needs of the patients.
– We are glad that we are able to welcome Zdravlje and its employees into our company. Our intention is to closely cooperate with Teva during this transition and to develop the company in time by expanding its possibilities and bringing new products to the factory – said the chairman of Frontier Pharma, Levent Selamoglu.
The managing director of Frontier Pharma, Kiren Naidoo, says that they aim to maintain Zdravlje’s status as a top-quality international pharmaceutical supplier, with a strong focus on the needs of the purchasers, health workers and patients.
Actavis says that, as part of Teva, it remains dedicated to patients and health workers in Serbia.
The sale of Zdravlje in Leskovac will secure a stable supply with the existing medical products and, as said, Frontier Pharma and Baystone Group are expected to bring additional products to the factory with time.
Frontier Pharma is a specialized investor and operator of pharmaceutical products. It is headquartered in Great Britain and its founders are Levent Selamoglu and Kiren Naidoo.
Baystone Group consists of specialized pharmaceutical investors headquartered in Great Britain and the USA, tightly connected with the growth of SICOR, Inc. and IVAKS Corp.
Source: ekapija, photo: Actavis