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Pharmaceutical Industry

 

  • Projected annual market growth until 2012 - 8%
  • Comprised of nearly 50 companies
  • Intensive development of new drug forms

Trade Unlimited Serbian pharmaceutical industry exports around 20% of its annual output and meets approximately 60% of the local market's needs. The remaining 40% is being met by imported pharmaceuticals, mainly originating from EU countries. Exports of Serbian pharmaceuticals are growing at an annual rate of around 25%, strongly underpinned by the free trade agreements with Russian Federation and CEFTA countries, making them Serbia's key export partners in terms of medicines.

Skilled Staff Serbia offers a high-quality, readily available labor pool for pharmaceutical manufacturers. The labor market in Serbia is blossoming with an increasing number of international investors relocating their businesses to the country. As a part of the employment support strategy, the state offers an attractive incentive package to potential employers which ranges from subsidies for job creation to division of retraining costs. On the supply side, 3.8% of the total number of unemployed workers has university degrees. In addition, close to 40,000 are college graduates, who altogether account for 7.71% of the total jobless figure.

Quality Commitment Besides complying with ISO quality standard, all companies in the pharmaceutical industry are obliged to introduce GMP standards. Key industry players have already completed this process, as those who fail to do so will simply be forced to withdraw from the market, since their products will be substituted with exported products.

Contract Manufacturing Opportunities Companies that are short of in-house manufacturing capacities and want to outsource small-batch production, reduce manufacturing costs, delay or avoid capital investments in manufacturing should consider contract manufacturing in Serbia. Serbia's leading pharmaceutical companies have modern technological solutions that enable them to manufacture over 95% of existing galenical forms. Production in the majority of companies complies with modern standards and the specific requirements of the pharmaceutical industry.