Business needs innovation, not nostalgia
Before privatization, the state enterprise Bioveta struggled with overemployment, insolvency, technological obsolescence and inefficient management methods. "When we privatized it in the mid-1990s, we had to reduce the number of employees from 250 to 130 in order to have enough money for salaries. In thirty years, we have increased the revenues from seventy million to three billion CZK, while growing our profit from zero to one billion CZK. Today, we employ around 740 people in plants equipped with state-of-the-art technologies. The company’s success is based on our own R&D and sale of final products with high added value. Our sales have been growing for a long time. Last year alone, we grew by dozens of percent," says Libor Bittner, CEO and co-founder of the pharmaceutical company Bioveta based in Ivanovice na Hané.
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