Union-medic rents Jugoremedija

Zrenjanin-based pharmaceutical plant Jugoremedija in bankuptcy has been rented to Union-medic from Novi Sad at a public auction. Union-medic's owner and CEO Milan Selakovic was the only bidder, and he agreed to pay a monthly rent of EUR 50,000 plus VAT, which was set by Jugoremedija Bankruptcy Manager Radovan Savic.

In order to participate in the auction, bidders had to pay a deposit of RSD 5 million. Union-medic was the only bidder to meet the condition of being registered as drug producer for at least one year, and it will sign a lease agreement next week.

Savic assessed that significant funds and three-month preparations were necessary to restart production at Jugoremedija.

He denied that Jugoremedija had lost all of its licenses to produce drugs.

- The company has only lost licenses to produce certain drugs, such as Trental and Laseks - said Savic.

Jugoremedija's new lessee Milan Selakovic did not want to communicate the plans of his company to the press.