Galenika Will Maintain Production Following State Loan Guarantee

BMI View: The issuance of government guarantees for a loan to state-owned Serbian drugmaker Galenika will ensure the continuation of medicine supplies to this market. The loan is sufficient to guarantee short-term survival, but the company's new management must deliver innovative strategies in order to ensure longer-term financial sustainability. The prospect that the government will look to restart the privatisation process cancelled in June 2010 is unlikely, but at the moment all possibilities remain on the table.

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