Biotest AG — M&A Activity 2004

Feb 23, 2004

News Details

Corporate | 23 February 2004 10:41

Biotest and Iranian Darou Pakhsh form joint venture

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Biotest and Iranian Darou Pakhsh form joint venture Dreieich, February 23, 2004. The pharmaceutical and diagnostics company Biotest AG and the Iranian company Darou Pakhsh formed Biodarou P.J.S. in Tehran in January 2004. Biotest holds a 49 % interest in the Tehran-based company. The contract, which was previously approved by the Iranian authorities, includes establishing an initial total of three plasmapheresis stations and test laboratories in Iran. Plasmapheresis is a patient procedure in which liquid, protein-containing plasma is separated from cellular blood components. After toll manufacturing of the plasma by Biotest in Germany the plasma preparations will be sent back to Iran. This joint venture is a key step for Iran in providing the country with its own plasma supply. Until now, Iran has had to rely on imports with a market volume of approx. EUR 50 million to cover its needs – via companies including a subsidiary of Darou Pakhsh. Darou Pakhsh, listed on the Tehran stock exchange, is the largest Iranian pharmaceutical company with a turnover of US$ 400 million. The pharmaceutical company, which is majority owned by the Iranian social security organization, has received an Iranian plasmapheresis license from the Ministry of Health as part of state-supported efforts to cover the country’s own plasma requirements. This license has now been transferred to the newly formed Biodarou. Biotest AG – a Prime Standard company – is regarded as being an international specialist for the diagnosis and therapy of immunological disorders and diseases of the haematopoietic system. Biotest has not only many years of experience in producing plasma products, but also in establishing and operating plasmapheresis stations. Biotest AG The Board of Managing Directors end of message, (c)DGAP 23.02.2004 ——————————————————————————– WKN: 522720; ISIN: DE0005227201; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg und Stuttgart 231041 Feb 04