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news.Belupo, part of the Podravka group and the second-largest pharmaceutical company in Croatia, has merged with Farmavita, a drug wholesaler based in Bosnia and Herzegovina, according to scribes.com.
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The deal is in sync with Belupo’s strategy to strengthen its position in the Balkans and pave the way for creating new markets. The company manufactures 95 pharmaceuticals in 223 forms and accounts for more than 11% of all prescription medicines sales in Croatia. Its main foreign markets were the Czech Republic, Slovakia, Slovenia, Russia and Romania. The company plans to export 30% of its output by 2010.
Farmavita, founded in 1991 is a pharmaceutical wholesaler. It expanded its business and built a 4,000sq m production and storage facility for medicines near Sarajevo in 2005.