Frontier Pharma and Bayston Group agree to buy Zdravlje from Leskovac
Frontier Pharma and Bayston Group have agreed to buy the Zdravlje pharmaceutical factory in Leskovac, Serbia from Teva Pharmaceuticals. According to the agreement, all employees in Zdravlje will stay for at least two years. Zdravlje produces solid and liquid forms for the treatment of cardiovascular, neurological and respiratory diseases. The factory has approvals to supply a number of international markets - Western and Eastern Europe, the United Kingdom, Australia, South America and Mexico. Teva's decision to sell Health is in line with the company's global strategy to optimize overall competitiveness by aligning its production facilities with patients' needs, the company said in a statement. Frontier Pharma CEO Kiren Naidoo said the company's goal is to maintain Health's status as a top international drug supplier with a strong focus on the needs of customers, healthcare professionals and patients.