Salvus Realises Investment Worth 50 Million Kuna in Donja Stubica

Lauren Simmonds

As Jozo Vrdoljak/Novac writes on the 12th of September, 2019, the new headquarters of the Croatian pharmaceutical company Salvus have now been opened in Donja Stubica. This is the largest private investment in Hrvatsko Zagorje in recent times, worth more than 50 million kuna.

This is Salvus’ first own space since its founding back in 2003, spanning 4444 square metres, and its construction and furnishing has been co-financed by the European Regional Development Fund.

Most of the highly qualified 145 employees are currently working at the new headquarters, and in addition to its current office and distribution purpose, Salvus will soon begin producing its own production portfolio of M.E.V. Feller, with whom they want to go global.

Donja Stubica has a long and famous tradition of being in the world of pharmacies because it was here that Eugen Viktor Feller, a pioneer of industrial drug production in Croatia, opened his first pharmacy way back in 1899 and started production of the Elsa fluid preparation several years later, which he exported throughout Europe, the USA, and even to China.

“We strive to connect the celebrated Croatian-conquered Donja Stubica tradition of pharmeuticals with modern technology and scientific advances. Our highly qualified team, whose education we’re continuously investing in, are focused on developing and marketing products that promote taking responsibility for one’s own health, disease prevention and self-treatment. With this investment and business expansion, we want to strengthen the efficiency of the company and increase its competitiveness on both the domestic and foreign markets, which will ultimately lead to an increase in revenues and thus new employment,” said Teodor Švaljek, CEO of Salvus.

The Salvus company was initially formed from the Švaljek Pharmacies, begun by Teodor Švaljek with his mother Josipa Švaljek, back in 1997 in Marija Bistrica. In addition to the pharmacy business, the Salvus Group now operates regionally, representing others and creating its own product portfolio of nutritional supplements, medical products, cosmetics and pharmaceuticals.

They operate across six markets with headquarters in Croatia, Slovenia, Serbia, Bosnia and Herzegovina, Albania and Kosovo.

The Group, together with Švaljek Pharmacies, employs a total of 265 people, whose average net salary is 8,000 kuna. The company saw continuous revenue growth of almost 136 million kuna in 2018, of which just over 23 million kuna is from exports, and this year exports are growing at a rate of 67 percent.

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