Galena Opava Records Record Profits
- Galena Opava of the Czech Republic recorded profits of 80 millionkoruna ($2.9 million) on sales worth 538 million koruna in the first quarter of 1997, according to the CTK news agency's Business News. The firm said that pharmaceutical exports in 1996 grew 38%, while domestic demand stagnated. US firm Ivax, which holds a 73.47% stake in Galena, plans to add 21 new products to the firm's range, according to CTK.
It is noted that Galena's share price fell 12.6% on the Prague Stock Exchange in mid-May. The fall was attributed to the poor performance of the stock exchange generally and low demand for Galena shares in particular.
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