Zentiva, the biggest pharmaceuticals producer in Slovakia, has sold its production plant in Hlohovec, Trnava Region, to Wood Pharma Holding, the TASR newswire learnt on Wednesday, November 21, quoting a statement by Zentiva’s parent company Sanofi.
The new owner, part of the investment bank Wood & Company, is to take over part of Zentiva's business activities, including production, packaging and distribution of pharmaceuticals and medications, Sanofi announced. The sale also involves the transfer of production machinery, around 800 employees, and selected trademarks.
According to the company, the aim of the sale is to create a stable environment in the Hlohovec-based plant and sustain the availability of the medications produced by the plant on the market. Zentiva’s owner, the French group Sanofi, is an international supplier of generic medications in Europe, the Middle East and Africa. Czech-based investor Wood & Company focuses on investments in emerging markets.
The SITA newswire wrote that the decision to sell the plant in Hlohovec was made last October and that the company had been negotiating with several interested parties since then. Zentiva and Wood Pharma Holding also concluded a contract on future cooperation under which the new owner will be able to produce drugs for the concern for the next five years.
Sources: TASR, SITA
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
22. Nov 2012 at 10:00