ICN Galenica To Build More Pharma Plants
Belgrade-based holding company ICN Galenika is to construct three more pharmaceutical plants, and has announced the imminent modernization and reconstruction of existing drug plants in the former Yugoslavia.
Some $136 million will be spent on the projects and on equipping the plants with state-of-the-art technology. Construction companies in the former Yugoslavia will carry out the work, and the projects are scheduled for completion in 1998. The plants will produce cephalosporin, penicillin, and hormonal and steroidal drugs.
ICN Galenika was set up in 1990, when SPI Pharmaceuticals, the eastern European subsidiary of ICN Pharmaceuticals of the USA, acquired a 75% stake in the Belgrade company Galenika with its business and factory.
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