Biotest AG: Biotest AG with new sales and distribution activities in Russia and Greece
Biotest AG / Key word(s): Alliance Biotest AG with new sales and distribution activities in Russia and Greece - Biotest AG concentrates its sales activities on Russian market through cooperation with Merz Pharma GmbH & Co. KGaA - Transfer of Distribution Rights in Greece from Biotest AG to Vianex s.a. Dreieich, January 21, 2013. Biotest is aiming to further expand its already strong position on the Russian market through a distribution agreement with the German company Merz Pharma. Merz Pharma is present across the whole Russian market with approximately 140 sales staff. Both companies identify significant synergy potential from their cooperation. Merz Pharma will sell the following products through its Russian subsidiary: Intratect(R), Pentaglobin(R), Neohepatect(R), Neocytotect(R) and Albiomin(R). The distribution agreement has come into effect as of January 1, 2013. Biotest AG will continue to be represented in Russia through its Representative Office. Its core activities will comprise drugs approvals, pharmacovigilance and scientific medical advice. Biotest will continue to directly offer its Factor VIII product Haemoctin(R) in state tenders through a Russian distributor. This agreement aims to utilise synergies with a company operating in Russia, to market our products (except Haemoctin(R)) on a targeted basis, and to significantly enhance our long-term market position. Furthermore Biotest has suspended all sales activities in Greece as per end of September 2012 due to the difficult payment situation in order to avoid a further increase of outstanding payments and to prevent additional value adjustment. However, there still is a demand for high-quality plasma proteins for severely ill patients. Accordingly, we are very pleased to announce that we could win one of the most significant Greek pharmaceutical companies, Vianex s.a., to take over registration and distribution for Biotest in Greece. Based on our contractual agreement, we are not only able to secure the supply for patients in Greece but to also have our payments safeguarded in case of a continuously difficult financial situation. In order to show continuity towards our customers and also to take responsibility for the Biotest employees, Vianex has taken over all available employees of Biotest Hellas. Vianex will start selling our products as soon as the registration is transferred. This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so. About Biotest About the Merz Pharma Group Biotest AG, Landsteinerstr. 5, 63303 Dreieich, www.biotest.de Securities' ID No., ISIN ordinary shares: 522720, DE0005227201 End of Corporate News 21.01.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.medientreff.de and www.dgap.de |
Language: | English | |
Company: | Biotest AG | |
Landsteinerstraße 5 | ||
63303 Dreieich | ||
Germany | ||
Phone: | 0 61 03 - 8 01-0 | |
Fax: | 0 61 03 - 8 01-150 | |
E-mail: | investor_relations@biotest.de | |
Internet: | http://www.biotest.de | |
ISIN: | DE0005227235, DE0005227201 | |
WKN: | 522723, 522720 | |
Indices: | SDAX | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart | |
End of News | DGAP News-Service |
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