Press Release
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2005 05 30<\/i><\/p>\n
The largest Lithuanian pharmaceutical company “Sanitas” is purchasing the Slovak pharmaceutical company “Hoechst-Biotika” for approximately LTL 40 mln. The agreement was signed on Friday.<\/p>\n
According to the General Director Saulius Jurgel\u0117nas final price of the plant will be known after the due diligence. He believes that the investment in “Hoechst-Biotika” will begin to repay itself after five to six years.<\/p>\n
Sanitas will be issuing new shares with a nominal value of LTL 20 mln. Litas and will be receiving financial support from Lithuanian banks to pay the purchase price of the new plant. The “Sanitas” Supervisory Board and General Director have amended the agenda of the General Shareholders Meeting to include an item on the new stock issue that is required for the financing of the new plant.<\/p>\n
It is S. Jurgelenas’ belief that the acquisition of “Hoechst-Biotika” is a key strategic move that will assist in supplying pharmaceutical products to the constantly growing Lithuanian and foreign market demand.<\/p>\n
“Hoechst-Biotika” is one of Europe’s most modern plants, with a staff of 311 high-level professional employees. “We are acquiring the plant from the well-known pharmaceutical company “Aventis”, which is selling it with the purpose of optimising the activities of the subdivisions after the merger with the company “Sanofi”” – said S. Jurgel\u0117nas.<\/p>\n
The International pharmaceutical market’s research agency IMS forecasts that the global pharmaceutical product market will grow up approximately 20 percent per year. “Particularly we see a wide expansion in this field in Czech and Slovak markets” – said S. Jurgel\u0117nas.<\/p>\n
The production capacity of the modern Slovak pharmaceutical company is greater than the current production capacity of “Sanitas”. “Hoechst-Biotika” is able to produce 38,5 mln injection ampoules, 500 mln tablets and 122 tonnes of ointments.<\/p>\n
“Hoechst-Biotika” has already planned for 2006 to maximise the production capacity of the injection ampoules, to utilise 50-70 percent of the tablet production capacity, and to utilise 35-40 percent of the ointment production capacity. “We have already planned this size for our production. We hope that the situation in the pharmaceutical market and our endeavours will allow us to enlarge the number of customers, to correct our plans in this case and maximise the use of the tablet and ointment production line” \u2013 said S. Jurgelenas.<\/p>\n
On 10 May, “Sanitas” announced at the Vilnius Securities Exchange that the Supervisory Board and General Director have decided that the General Shareholders Meeting would be held on 11 June. The meeting’s agenda would address the change in the nominal value of common shares from LTL 5 to LTL 1, increasing the number of shares on a pro rata basis.<\/p>\n
In the mean time, the company will pursue the project, which has a total value of approximately LTL 40 mln. This project entails the construction of a new plant on the land of the daughter company Endokrininiai Preparatai that will begin its activities in the end of 2006. Funds worth of LTL 16.16 mln have already been received from the EU Structural Funds.<\/p>\n
In 2005 \u201cSanitas\u201d expects sales of LTL 38 mln and approximately LTL 6 mln net profit. \u201cSanitas\u201d together with Hoechst-Biotika\u201d and the daughter company \u201eAltisana\u201c expects to achieve consolidated sales of LTL 49 mln. <\/p>\n
Last year the audited net profit of \u201cSanitas\u201d was 4,6 mln. litas \u2013 7,4 times greater than in 2003 (LTL 0,625 mln), the turnover of the company increases 39 percent \u2013 from LTL 30,889 mln to LTL 43 mln.<\/p>\n
\u201cSanitas\u201d shares are listed on the Vilnius Stock Exchange Current list. On Friday 27 May, the market price of the shares was LTL 58,5, the capitalization of the company was LTL 104,78 mln.<\/p>\n
The majority shareholder of \u201cSanitas\u201d is the investment company \u201cInvalda\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
Press Release 2005 05 30 The largest Lithuanian pharmaceutical company “Sanitas” is purchasing the Slovak pharmaceutical company “Hoechst-Biotika” for approximately LTL 40 mln. The agreement was signed on Friday. According..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[6],"class_list":["post-13997","post","type-post","status-publish","format-standard","hentry","category-group-company-press-releases","tag-imported"],"acf":[],"yoast_head":"\n