Chief Executive Officers of the leading pharmaceutical companies in Bosnia and Herzegovina and the Republic of Turkey, Mr Nedžad Poliæ on behalf of Bosnalijek d.d. (Bosnalijek) and Mrs Candan Karabagli on behalf of Abdi Ibrahim have signed, today in Sarajevo, the first four licence agreements for cooperation in the field of extension of product portfolio and joint presentation in the strong foreign markets.

The strategic business agreements include sale of Abdi Ibrahim's products under Bosnalijek's brand in the markets of Bosnia and Herzegovina and abroad. These four new products are successfully used in the treatment of Hypertension, Dementia and Cholesterol. The estimated sales potential of these drugs is six million convertible marks (BAM) annually.

"We are very pleased to be attaching our signature to such an important agreement with Bosnalijek, a company that is active in 12 countries throughout the world and is also the largest producer of pharmaceuticals in Bosnia - Herzegovina", said Mrs Karabagli during the Signing Ceremony and further emphasized, "I hope that this agreement, which we believe to be a very important milestone for both companies, will be beneficial to the developing business relations of both countries."

Realisation of the mentioned agreements is only the first step in cooperation of the two companies. The next step will be establishment of a strategic partnership in two exceptionally strong pharmaceutical markets of Ukraine and Russia. The joint presentation in this form of cooperation represents joining of forces in the production portfolio and marketing and distribution of products. Bosnalijek will enrich its offer with Abdi Ibrahim's products, while Abdi Ibrahim will use the successfully established position of Bosnalijek in those markets. The estimated sales potential of these products is 14 million BAM annually.

"For Bosnalijek, the cooperation with Abdi Ibrahim, a company with 100 years of experience represents a confirmation of quality and business orientation led by the vision of growing into a globally respectable pharmaceutical company. Bosnalijek has already cooperated with the top world companies, but this is the first time it is achieving this form of cooperation in its export markets", said Mr Polic during the Ceremony.

The two companies not only share the vision and strategy of growth in the international markets, but also represent a significant foundation for development of healthy societies in which they work, from the aspect of employment of high quality staff as well as from the wider aspect of socially responsible business.

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