Jugoremedija still without owner – New sale soon, price to be equal to deposit

The fourth attempt at the sale of the Zrenjanin-based pharmaceutical company Jugormedija in bankruptcy as a legal entity, at the initial price of nearly RSD 1.3 billion, has fallen through, as no one applied for the purchase of the documentation before the expiration of the deadline (February 19), Novosti learns.

Although there were interested purchasers, who visited Zrenjanin to take a tour of the factory, no one paid the deposit for taking part in the public bidding, which was scheduled for February 26. On that date, the auction will be pronounced unsuccessful and the search for a purchaser will continue.

The bankruptcy supervisor, Radovan Savic, confirmed that a new tendering procedure would be opened soon. He hinted that the initial price would be lowered to the amount of the deposit at the latest unsuccessful attempt at a sale, that is, to RSD 762.7 million. The price is proscribed by law and requires no consent from the creditors.

As Novosti reports, it is assumed that the reason that Jugoremedija has not yet been sold is the lawsuit concerning Jugoremedija's intellectual property – trademarks and permits for the marketing of 21 products, the most valuable part of the company's property. The former lessee of the facility in Zrenjanin, the Novi Sad-based company Union Medic, refuses to return this part of the property, demanding a compensation for its registration costs, which is why there is a lawsuit at the Commercial Court in Zrenjanin.

Jugoremedija's potential purchaser is offered this lawsuit as part of the property.

– Without these permits, no one needs the factory and its machines. It is obvious that this is a deliberate devaluation of Jugormedija and an attempt to fix the sale – Vladimir Pecikoza, the chairman of the Board of Creditors, said for Novosti.

Jugoremedija a.d. Zrenjanin

Union-medic Novi Sad

Privredni sud u Zrenjaninu

Jugoremedija in bankruptcy

Radovan Savic

sale of Jugoremedija

privatization of Jugoremedija

Jugoremedija pharmaceutical factory

production of medicaments

pharmaceutical facilities in Zrenjanin

production licenses of Jugoremedija

medical drugs

medicaments