German drug maker STADA to proceed with partnership with Podgorica's Hemomont

Podgorica, Montenegro (4 December 2014) – German drug maker STADA, as a majority owner of the Podgorica's "Hemomont", is interested in extending the partnership and capacities through the opening of a new production line, today's meeting between Prime Minister Milo Đukanović and STADA'S Hartmut Retzlaff emphasised.

Mr Retzlaff highlighted the investment amounts to EUR 5.2 million, adding that the company intends to increase the number of employees.

PM Đukanović commended the cooperatioon established with the German company, adding that Montenegro has potentials for developing the pharmaceutical industry regardless of the challenges it has to tackle as a small market.

STADA is a publicly traded, international company focusing on the healthcare market, which employs 10 000 people in 14 factories throughout the world.