Galenika Belly Up

jc21np

jc21np

Member
Joined
Jan 19, 2013
Messages
208
Today was d-day for Galenika.

Govt tried to save company with last ditch effort. But plan was only made recently.

Only hope, they revisit topic with a better plan in future. But seems bleak.

Man I though I'd always have ksalols to back up on.

 
How does a drug company end up with this kind of debt?? Been around since 1945!

http://en.wikipedia.org/wiki/Galenika_a.d.

This is NOT a direct link to the Wiki article...You have to do a little searching...

$65 million in debt...Selling all the shit we love! /default_sad.png

 
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yellowbelly said:
How does a drug company end up with this kind of debt?? Been around since 1945!

http://en.wikipedia.org/wiki/Galenika_a.d.

This is NOT a direct link to the Wiki article...You have to do a little searching...

$65 million in debt...Selling all the shit we love! /default_sad.png
Click to expand...
Selling all the shit we love cheaply!! The big pharma's out there take all the big deals with hospitals and National health schemes, private as well so leaves companies like galenika out to fend for itself in an ocean of sharks. I think this was on the cards for awhile they almost went under about 6-7 years ago.

Xegh

 
Can someone post a link to the info about Galenika going belly up please. I've searched and cannot find anything that states this cheers.

 
This is the closest article I could find regarding Galenika. It is from Dec 2013. Other than that, I couldn't find anything either saying they had been sold or shut down.

When I talked to max, he said he was out of the little blue k's made by Galenika, and he just said there were some "political" issues going on right now with the company. He said he wasn't sure if or when they would come back.

http://www.reuters.com/article/2013/12/05/serbia-pharmaceuticals-idUSL5N0JK44520131205

 
Yep I've read that YB Galenika seems to have been in trouble for a while but no where can I find out about it going belly up. I don't think it's the case from what I've read and I've emailed people from that area and they are none the wiser.

 
I hope you're right Babsy, and they get those little blue k's back in stock...I didn't realize how big the company was,(2000 employees) and how much deep shit they were in financially, until I did a little research...-YB

 
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Bollox galenika ain't going belly up it's just rumours and poor ones at that

 
Babsy said:
Bollox galenika ain't going belly up it's just rumours and poor ones at that
Click to expand...
Babsy, I wish you were correct my friend cuz I never got the chance to try the the little blue balls everyone seemed to love, however this doesn't seem like rumors:

Eight persons arrested in Galenika case

Ninth suspect in Galenika case turns himself in

Now I am no expert on Serbian politics so who knows maybe these guys go to jail, get replaced and the government bails out the company and turns it back into a viable money-making enterprise but as far as I can tell it doesn't look too good.

What timing on my part...I emailed Max on 5/7 to place my first order of Ks@lol's and he just told me they weren't available at the time due to problems at the factory. I guess we know now just what those problems were.

 
Listen if galenika was going belly up why is Max telling people ksalols are back in this week and if galenika was belly up there would be no bensedin which galenika makes also. Just because a couple of people have been arrested dissent mean a whole factory employing 2000 people and turning a profit in the millions is going to shut down.

 
Babsy said:
Listen if galenika was going belly up why is Max telling people ksalols are back in this week and if galenika was belly up there would be no bensedin which galenika makes also. Just because a couple of people have been arrested dissent mean a whole factory employing 2000 people and turning a profit in the millions is going to shut down.
Click to expand...
Babsy I hope you are right my friend because I really do want to try the Ks@lol's, however it's not just the arrests. If that was the only problem then I would agree with you 100%, however it's a little more complicated than that. Read this article and pay close attention to the last paragraph. Like I said I am no expert on Serbian politics and the current situation but the issue is deeper than several bad actors getting arrested.

As far as Galenika products are concerned there are stock piles of already made pharmaceuticals so it's possible sources will still be able to get their hands on them until all the existing inventory sells off even if the company really does bite the dust. Like I said I hope you are right and the company stays alive...not just for my own selfish reason of wanting to try some Ks@lol's but because nobody wants to see 2000 people lose their jobs. 

 
Does anyone know what's the word with Galenika?

Are they still making Ksalols and others?

Did they get bought out?

Or are they done?

Thank you in Advance.

 
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