‘Hemomont’ Pharmaceutical Factory Capital Increase

Construction of a New Plant and Creation of New Jobs

The capital increase in the amount of EUR 5.2 million was approved to a member of Hemofarm Group, Hemomont company, the first pharmaceutical factory in Montenegro. The funds are earmarked for the construction of the new plants for production of sterile nasal sprays, including also creation of 50 new jobs in Podgorica.

The new plant has been envisaged to produce 127 million packs of nasal sprays annually. With the previous strict control of meeting the standards in terms of quality and safety, nasal sprays will be available to population as early as in the next year.

In the ownership structure of Hemomont, Hemofarm holds a 71.02% share in the capital, the Government of Montenegro – 19.35%, while the share of the Health Fund of Montenegro accounts for 9.23%.

About Hemomont: It was founded on 11th November 1994, as the first pharmaceutical factory in Montenegro. Hemomont is the market leader in terms of the share of its products in the market of Montenegro. The company has recently received the first EU certificate for compliance with Good Manufacturing Practice (GMP) standards. Since 2006, Hemomont has been a part of the German pharmaceutical group STADA, the fifth largest global generic manufacturer. Hemomont’s products are exported to Serbia, Bosnia and Herzegovina, Macedonia, Albania, Romania, Azerbaijan, Russia and Ukraine.