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<div align="center"><b>German Cartel Office approves acquisition of AWD.pharma |
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</b> </div> |
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<p>The German Cartel Office has approved the purchase of Dresden-based AWD.pharma |
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GmbH & Co. KG by PLIVA. The pharmaceutical company AWD.pharma from Saxony |
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was acquired from Degussa AG, Düsseldorf for a cash consideration of EUR |
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50 million. The purchase agreement was signed in Basel on 14 June 2001.</p> |
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<p>With its laboratories AWD.pharma is one of the most significant pharmaceuticals |
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producers and research institutes in the new federal states, i.e., former East |
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Germany. It has 665 employees and in 2000 had revenues of EUR 115.8 million, |
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pre-tax profits of EUR 9 million, and net assets of EUR 40.5 million.</p> |
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<p>Mr. Urs Brauen has been appointed as General Manager of AWD.pharma. Mr. Brauen |
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is confident about AWD.pharma's further sales growth and stresses that AWD.pharma |
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will continue to strengthen its product portfolio for the cardiovascular and |
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central nervous systems and treatment of pain by expanding it with new preparations. |
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This will be achieved through licensing and innovated products.</p> |
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<p>"Our objective is to reinforce AWD.pharma's position in the new federal |
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states. PLIVA's products, particularly PLIVA's anti-inflammatory drugs, antibiotics |
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and biotechnological products, are a good platform for our plans", stressed |
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Mr. Brauen.</p> |