Meeting of Serbian President Tomislav Nikolić with Leading Representatives of Hemofarm

A meeting between the Serbian President Tomislav Nikolić and Chairman of the Executive Board of STADA Group Hartmut Retzlaff was held at the President’s Office today.The meeting was also attended by Ronald Seeliger, CEO of Hemofarm, and Dmitry Efimov, Vice President of STADA Group for Russia, CIS and Baltic.

The business environment in Serbia and Hemofarm’s activities in the local market, with plans for further development, were the topics of this previously arranged meeting. Hemofarm is the first pharmaceutical company received by the newly elected President of Serbia.

The Serbian President expressed good will to help improve the business climate and activities in Serbia, all within his jurisdiction. Mr. Retzlaff briefly presented Hemofarm and STADA Group, as well as future plans of this company, which is a long-standing market leader, to the Serbian President.

It was assessed that there were two key reasons for poor condition of pharmaceutical industry. Specifically, this refers to the deficit of the Republic Fund for Health Insurance and too long procedures for registration of medications and approval of new products' prices. A part of the meeting referred to corporate social responsibility, since Hemofarm has a long-lasting tradition of rendering support to the local community, for which it is certainly famous, and it is a winner of numerous awards in that area.

The meeting was held in an amicable atmosphere and both parties agreed that good cooperation between the business sector and the state was necessary in order to improve the business conditions and create new opportunities for further growth. The delegation agreed with the President in regard to the necessity of building good relations with Germany and Russia, as strategic partners of both the Republic of Serbia and Hemofarm.