The management of Relad Internaţional filed for insolvency lastweek and if the court of law sustains it, this will become thebiggest insolvency on the drug market, as well as of the entireRomanian business sector.
Relad Internaţional is one of the largest drug distributors onthe Romanian market, which last year posted 874.6 million RON (206million euros) in turnover, up from 735.25 million RON (199 millioneuros) in 2008. In terms of turnover, the company ranks among thetop five players on this market.
Recently, Roche Romania , the local subsidiary of Swisspharmaceutical giant Hoffman La Roche, filed a petition with BuzăuCourt of Law requesting the insolvency of Relad Internaţional as itsought to recover a debt whose value has not been revealed. Then,Pfizer and Johnson & Johnson, another two internationalmanufacturers, went to court for the same matter. Later, the Reladmanagement filed for insolvency on its own, which comes amid"supplier scepticism as to our good intentions to continue ouroperations in the pharmaceutical sector."
The company sent to ZF on Thursday a note announcing that "Reladmanagement has decided to file the petition for the generalreorganisation of Relad Internaţional SRL with the Buzău Court ofLaw." The judicial administrator that Relad requested is SPBalescu&Asociaţii SPRL Buzău.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
