Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Jadran Galenski Laboratorij (JGL) is expanding its production facilities with the construction of a new “Pharma Valley”, which will double its output in sterile solutions and create 100 new jobs.
JGL is a flexible, medium-sized pharmaceutical company, producing primarily generics, developed from a central laboratory for manufacturing and controlling magistral and galenic preparations for the "JADRAN" Rijeka pharmacy. It is the second largest pharmaceutical company in Croatia specialising in the production of sterile nose, eye and ear drop solutions. The company exports 75 per cent of its production. It was founded in 1991 as the first entirely private pharmaceutical joint stock company in Croatia. It is situated in Rijeka.
The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of JGL with a €20 million multi-currency loan. The EBRD’s loan will be complemented by a €32.7 million loan provided by the Croatian Development Bank - HBOR. JGP serves as an example of the country’s potential in terms of entrepreneurship, innovation and know-how. EBRD hopes that many more local companies will emulate this successful example.
The JGL Management Board is very pleased that a reputable financial institution such as the EBRD has recognised JGL as a long-term partner. The loan will finance working capital needed for its ongoing investment projects while providing additional support to JGL's strong growth and sustainable development. This will ensure the capacities for research and development, production and storage and will support JGL in taking a further strategic step in selected therapeutic areas in the global pharmaceutical market.
Eurofound (2015), Jadran Galenskim Laboratorijem, Business expansion in Croatia, factsheet number 78259, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78259.