Czech Government To Sell-Off VUAB
The Czech government has decided to sell the state-owned Antibiotics andBiotransformations Research Institute (VUAB) in Roztoky to Nystepharm, a large part of which is owned by VUAB's management, according to the CTK news agency's Business News.
Thefts Over Several Years VUAB is the world's third largest producer of ephedrine, making 150 tons each year, but has recorded losses recently. Reports add that the company has also suffered from a number of thefts of ephedrine from its plant over a considerable period.
The company, which was founded in 1959 and employs 550 people, also produces various intravenous nutritional substances, with finished products making up 45% of turnover. VUAB had sales of 590 million koruna ($16.7 million) in 1996.
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