Frontier Pharma and Baystone Group completes its acquisition of Zdravlje, a high quality pharmaceutical manufacturer in Serbia

Frontier Pharma and Baystone Group today announced the completion of its acquisition of Zdravlje A.D from Teva Pharmaceuticals. Zdravlje currently supplies high quality pharmaceuticals to more than 35 international markets including those in Western & Eastern Europe, U.K., Asia-Pacific, Sub-Saharan Africa and Latin America. 

"We are incredibly pleased to complete this transaction and support Zdravlje as a leading independent pharmaceutical company. We look forward to working together with the exceptionally talented team at Zdravlje to further develop the Company into a leading international pharmaceutical company." said M. Levent Selamoglu, Chairman of Frontier Pharma.

Established in 1953, Zdravlje has a 67 year track record in the manufacture and supply of high quality pharmaceutical products. The Company currently employs more than 250 people and manufactures a large portfolio of oral solid and liquid products to treat a range of serious and chronic diseases including cardiovascular, central nervous system and respiratory disorders, amongst others. Zdravlje also brings a portfolio of complementary branded generic pharmaceutical products which forms the foundation of an independent commercial strategy under the "Zdravlje" brand.

"We look forward to leveraging Zdravlje's extensive track record as a premium global supplier to create an industry-leading, fully integrated pharma platform." said Kiren Naidoo, CEO of Frontier Pharma.

"This is a key milestone in Zdravlje's history and we are delighted to continue our successful business in the pharmaceutical industry by providing our high quality products to more than 35 countries around the world and to support the local community in which we have successfully operated in for more than 67 years" said Bojan Jovic, Zdravlje's General Manager.

About Frontier Pharma and Baystone Group

Frontier Pharma is a U.K.-based specialist pharmaceutical investor and operator founded by M. Levent Selamoglu and Kiren Naidoo. The company has several decades of industry experience across Europe, Middle East and Africa ("EMEA"). The group is well-known for its capabilities across oral solids, injectables and topical pharmaceutical forms, API production and experience as a contract manufacturer for a range of multinationals.

The Baystone Group comprises U.K. and U.S.-based specialist pharma investors closely associated with the growth of SICOR, Inc. and of the IVAX Corp, two industry-leading specialty pharmaceutical companies with advanced capabilities across injectables and respiratory technologies, amongst others. The Group is a major shareholder in Flynn Pharma (comprising operations across the U.K., Ireland and Germany) and has a portfolio of pharmaceutical investments spanning biotechnology and advanced drug delivery.