Press releases
09-19-2003
curasan AG - Sale of Pharmaceuticals Unit
Focus on Biomaterials and Regenerative Medicine
Kleinostheim, 19 September 2003- Effective from 1 November 2003, curasan AG (WKN 549 453) has sold its Pharmaceuticals business unit (generic AIEP pharmaceuticals) to DeltaSelect GmbH, a wholly-owned subsidiary of exchange-listed PlasmaSelect AG (WKN 547 180). The agreement is subject to the suspensive condition that the Extraordinary Meeting of Shareholders furnishes its approval.
The proceeds of the sale depend, to a certain extent, on the existing inventories at the date of transfer and will range between €13 million and €14.5 million. This figure mainly includes intangible rights (drug approvals, distribution rights), customer and supplier relationships, and current projects. Part of the staff will be taken over by the purchaser.
curasan AG will use the proceeds of the sale primarily for the purpose of accelerating domestic and international market penetration within the area of Biomaterials and financing projects in its product pipeline.
Instead of a break-even result, the company now expects to post a profit for the 2003 financial year.