The potential sale of the 33% of Galenika-Fitofarmacija A.D. (BELEX:FITO) to the consortium of Russian LLC NPA Petrovax Pharm and Frontier Pharma Limited could reportedly be canceled mainly due to the company's accumulated debt of €70 million. Some newspaper sources revealed that, banks failed to express readiness to postpone repayment of Galenika's debts, due to start from the beginning of December 2016.