BELGRADE, April 30 Serbia on Tuesday extended
for another month a deadline for bids for its indebted state-run
drugmaker Galenika Pharmaceuticals, with the U.S.-based unit of
Canada's Valeant Pharmaceuticals International so far
the only potential partner.
The finance ministry said the new deadline was 4 p.m. (1400
GMT) on May 31, the third extension since offers were first
invited on Jan. 14.
With a workforce of 2,700, the Belgrade-based Galenika has
accumulated debt of about 170 million euros ($223 million), and
needs about 50 million euros in additional capital in 2013.
Its sale is part of an effort by the government to offload a
number of bloated, loss-making state enterprises to ease the
burden on its budget.
Earlier in April, the finance ministry said the U.S.-based
unit of Valeant was the only potential partner so far, having
met all the conditions of the tender.