JGL pharmaceutical company formally opens Pharma Valley complex

The new complex of the Rijeka-based pharmaceutical company Jadran Galenski Laboratorij (JGL), called the Pharma Valley, was formally opened on Friday in the presence of Prime Minister Zoran Milanovic

The first phase of the Pharma Valley project, an investment worth HRK 361 million, took two years to complete and was largely financed by a loan from the Croatian Bank for Reconstruction and Development (HBOR). With the project, the company has ensured the growth and development capacity for the next ten years.

"You are one of those producers that is not a monopolist, but you have to earn your bread in competition outside Croatia, which is the healthiest way," the prime minister said. He added that last week he had visited a similar company in Osijek which has invested EUR 100 million in export-oriented production with the HBOR's support. "That's exactly what the government should be doing. It must not stand in the way, it must be a solution, not an obstacle."

Milanovic said that companies such as JGL made sense only if they sold 80 per cent of their production abroad, because the Croatian market was small.

JGL CEO Ivo Usmiani said that JGL wanted to become a leading company in the development and production of eye and ear drops and that this required state-of-the-art technology which has been secured through this project. Speaking of development plans, he said that a project aimed at starting production in Serbia would be completed by the end of the year.

Among those attending the opening ceremony were Regional Development and EU Funds Minister Branko Grcic and Health Minister Sinisa Varga.

(Text: Hina)

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