WASHINGTON, June 11 (Hina) - The information that Croatia's leading pharmaceutical company "Pliva" bought US companies Sidmak Laboratories and Odyssey Pharmaceuticals was met with response in business and media circles in the United
States.
WASHINGTON, June 11 (Hina) - The information that Croatia's leading
pharmaceutical company "Pliva" bought US companies Sidmak
Laboratories and Odyssey Pharmaceuticals was met with response in
business and media circles in the United States. #L#
The New York Times and Reuters published the news about Pliva's
acquisition of the said companies which were a part of the Sobel
company.
According to Reuters, Pliva, the biggest east European
pharmaceutical company bought Sidmak for 152.9 million dollars in
cash, and thus it has fortified its position on the biggest world
drug market.
Pliva also took over Sidmak and Odyssey's bank loan worth US$59
million.
Sidmak is a leading American company in the manufacturing of
generic drugs.
The firm, established in 1997, has 39 products and the most famous
are "fluoxetin" and "cyclosporin".
Two years ago Sidmak established Odyssey which is producing
original drugs.
According to US financial magazines, Sidmak generated a profit of
4.3 million dollars in 2001 when its sale came over US$100 million.
Sidmak has concluded agreements on cooperation with Banner
Pharmacap, Israeli Medison Pharm and Taiwanese Hanover
Pharmacial.
Reuters quoted a Reiffeisen bank expert, Bram Buring, as saying
that this acquisition would make it possible for Pliva to appear on
the US market with new products without additional financial
burdens.
Pliva has, via the Pfizer firm, been present on the US market with
its "azithromycin" for three years, but the medicine's licence will
soon expire.
/hina) ms