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Pliva completes divestment of its German manufacturing plant

ZAGREB, May 4 (Hina) - Croatia's leading pharmaceutical company Plivareported on Thursday it had completed the sale of its manufacturingplant in the German city of Dresden.
ZAGREB, May 4 (Hina) - Croatia's leading pharmaceutical company Pliva reported on Thursday it had completed the sale of its manufacturing plant in the German city of Dresden.

"Pliva d.d. announced today that its German subsidiary AWD.pharma GmbH & Co. KG has completed the divestment of its manufacturing plant in Dresden, Germany," reads a press release issued on the company's website.

"The closing of the transaction will not have a material impact on Pliva Group results for 2006 given that associated restructuring charges were reflected in Q4 2005 results. The transfer of production to more cost-efficient sites is ongoing and should be completed by 2008," it added.

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