West Balkan
Alvogen West Balkan

Alvogen Pharma d.o.o. Barice
Regional Office - West Balkan
Kumodraška 239
11000 Belgrad
Republic of Serbia

+381 11 414 64 70
+381 11 414 64 79

The European Bank for Reconstruction and Development defines the Western Balkans as the former Yugoslavia and Albania, without Slovenia and Croatia. Today, Western Balkans is more of a political than geographical definition for the region of Southeast Europe that is not in the European Union.

Alvogen expanded its market networkto Serbia in 2010, opening a regional headquarter in Belgrade. Since then, five representative offices in the region have been established: FYR Macedonia, Albania, Montenegro, Kosovo and Bosnia.

“We are very excited about our operation in the West Balkans. In a relatively short time, we have recruited a good team and inaugurated a new packaging site. Our focus will be on registration of our in-house portfolio, but we will also be open for collaborations and portfolio acquisitions to further strengthen our business”, says Milorad Dragojlovic, Commercial Manager West Balkan.

Alvogen has also built a new packaging center in Barice, 70 km (45 miles) from Belgrade in Serbia. The plant is designed for primary and secondary packaging of some 20 million packs for the West Balkans and other markets. Utilization of the site has already started by MA transfers from some foreign companies, providing the necessary portfolio for accelerated penetration of the Serbian market. The site can also provide small batches for neighboring markets and additional equity value for our business in Iraq, by transforming current distribution arrangements into own brand business.

Market info

The population of West Balkan region is about 20 million. Total market value is more than EUR 1 billion in net selling prices, with 5-8% growth per year. With a market size of EUR 750 million, Serbia is the biggest market. Generic preparations represent more than 65% of total consumption, while OTC traditional and herbal products are growing fast. Anti-diabetic and anti-depressives consumption is growing fastest among human drugs.

Regulatory requirements are being introduced to meet EU standards, but still domestic producers have favorable position in obtaining reimbursement status. Data exclusivity for domestic producers is eight years and ten years for foreign producers. Prices are fixed by the state and there is constant price erosion, mainly because of growing competition. Serbia has signed free trade agreements with Russia, Belarus and Kazakhstan; these markets can import Serbian products without duties. This is an opportunity that is still not enough explored.

  • 630 m€Size of Serbia's
    pharmaceutical market
  • 269 m€Size of Bosnia's
    pharmaceutical market
  • 195 m€Size of Albania's
    pharmaceutical market
  • 112 m€Size of Macedonia's
    pharmaceutical market