New JV In Moldova Gets German Backing

Mezon of Moldova, a company manufacturing products for the defenseindustry, has signed a contract with the two German companies, Fresenius AG and Farmaplan, to launch a pharmaceutical joint venture, Perfuzon, aimed at producing a wide range of medicines in Moldova. The German partners will hold 20% of the joint-venture company, with Moldovan government entities accounting for the balance.

Fresenius will market an estimated 50% of the firm's future production, which is expected to comprise some 124 medical preparations including infusion solutions. German investment is expected to reach 20 million Deutschemarks ($11.94 million) in the early phase of the project.

The new company is to be commissioned in October and will produce around $17 million worth of drugs annually. Farmaplan originally won the contract to build a drug production plant six years ago, but the project was postponed because of Moldova's financial problems.