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<p align="center"><b>PLIVA ACQUIRES UK BASED DOMINION PHARMA LIMITED</b></p> |
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<p> PLIVA d.d. ("PLIVA") announced today that it has acquired Pharmascience UK |
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Limited, 100% owner of Dominion Pharma Limited ("Dominion"), for a total cash |
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consideration of GBP 3.4 million.</p> |
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<p> Dominion, who reported a turnover of GBP 4.3 million in 1999, markets a mix |
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of speciality branded products, together with a growing range of generics, for |
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both primary and secondary care. The speciality product range mainly comprises |
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products in the urological, ophthalmological and dermatological areas, and is |
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supported by a small hospital specialist sales team. The generic range is sold |
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directly to wholesalers and hospitals with some products being supplied to other |
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pharmaceutical companies for marketing under their own brand name. The company |
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seeks to grow through the development, licensing-in and acquisition of both |
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speciality and selected generic products. </p> |
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<p>The value of the company lies in its pipeline of new product agreements; the |
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ownership of certain licences through which it also carries out contract manufacturing |
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for third parties; the skilled management and staff with their knowledge and |
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expertise in both the UK and other Western European markets; as well as the |
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current range of branded niche products. The transaction will not, however, |
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involve the acquisition of any manufacturing assets. </p> |
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<p>Commenting on the acquisition, Zeljko Covic, President and Chief Executive |
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Officer of PLIVA, stated: "The acquisition of Dominion, which provides the benefits |
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of direct access to the important UK market as well as a team of experienced |
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staff, represents the first step in the implementation of PLIVA's strategy to |
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enter key identified markets in the West. We expect growth on UK market from |
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both Dominion products and PLIVA's generics in development. Currently, PLIVA |
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is considering further acquisitions and start-up operations both in the UK and |
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other Western markets. This transaction highlights our commitment to internationalising |
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our business and securing a firm financial and operational basis for PLIVA's |
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future, enabling PLIVA to continue to create and deliver additional shareholder |
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value."</p> |
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<p> For additional information please contact: </p> |
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<p>Erika Kaspar<br> |
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Investor Relations, Director<br> |
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Tel: 385 1 6120 755<br> |
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Fax: 385 1 6114 413<br> |
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E-mail: <a href="mailto:erika.kaspar@pliva.hr">Erika.Kaspar@pliva.hr</a></p> |
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<p> Marija Mandic<br> |
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Finance, Financial Analyst<br> |
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Tel: 385 1 6160 355<br> |
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Fax: 385 1 6120 634<br> |
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E-mail: <a href="marija.mandic@pliva.hr">Marija.Mandic@pliva.hr</a></p> |