Mr. Covic can turn brusque when pressed for details about operations, and he wouldn't allow interviews with other Pliva executives. Analysts say it is too early to tell if his corporate strategy is working, but they welcome the changes. And the firm was able to pare its staff to 5,600 from the 1990 high of 7,300. But analysts say staffing is still too high, criticizing the company for moving too slowly to contain costs. The company had become famous for awarding employees and managers large pay increases, but analysts say this practice seems to have ended last year.
Investors also like what they see.
Interest grew when the Croatian government announced it would move ahead with a follow-on share offering, which had been delayed late last year in the wake of the Asian financial crisis. Competition is heating up again, too. Three or four companies will have enough room for growth. In terms of equity structure and where we sell our products, we could say we're a multinational company right now. Inc. All Rights Reserved.