·       Sanochemia concentrates diagnostics in new subsidiary

·       Sanochemia Diagnostics International GmbH founded in Neuss, Germany

Vienna, 13.06.2002  -  Sanochemia Diagnostics International GmbH is a newly founded spin-off of Neuer Markt listed Sanochemia Pharmazeutika AG (SAC 919963). The central aim behind the move is to concentrate the development and international marketing of the Group’s diagnostic products under a single roof.

Sanochemia Diagnostic International (SDI) has already commenced operations at a newly built research park in Neuss, Germany. In order to exploit latent synergy effects within the Group, the majority-held Goldham Pharma GmbH has also relocated to the same premises. Goldham Pharma’s sales and marketing efforts in the diagnostic and contrast media fields will subsequently be intensified and its products repositioned on the market.  

The restructuring of Sanochemia’s Human Pharmaceuticals division will involve a comprehensive fusion of all the Group’s current and future activities in the Austrian, German, UK and export diagnostic markets. SDI will be engaged in the R&D, registration, licensing, strategic marketing and internationalisation aspects of the business.  

“The founding of Sanochemia Diagnostics International is aimed at concentrating the development potential inherent in Sanochemia’s diagnostics and those of its subsidiaries in a single business unit with professional management in order for us to be able to focus our resources on our core business area,” said CEO Dr. Josef Böckmann. 

It will now be possible to accelerate and internationalise ongoing R&D projects such as the development of innovative contrast media for nuclear magnetic resonance imaging. Cost- and time-savings will be achieved through single-brand marketing, while targeted business development is expected to generate higher licensing revenues.   

“In setting up Sanochemia Diagnostics International, Sanochemia has created a future leader in the sale of diagnostic products and the further development of contrast media for special purposes, such as the diagnosis of nervous disorders. This move will also exploit synergy effects with Sanochemia Pharmazeutika AG and compliment research into new products for the treatment of forms of dementia through the parallel development of diagnostic methods,” remarked Chairman of the Supervisory Board, Dr. Werner Frantsits. 

The establishment of Sanochemia Diagnostics International as an independent business unit is the most significant strategic move within the Sanochemia Group to date, and represents a decisive element in maintaining the dynamic and positive trend, in terms of revenues, started in the past year. The Board not only anticipates further increases in operating performance, but also forecasts that the steps recently taken will play a key role in improving results.    

Sanochemia Pharmazeutika AG is a research-oriented pharmaceutical company based in Vienna that specialises in the field of central nervous system disorders. Its core competence lies in the development and synthesis of active substances to combat forms of senile dementia such as Alzheimer’s, as well as to treat stroke, Parkinson’s and epilepsy patients.

 Sanochemia has been successful in developing a cost-effective synthesis method as the basis for the treatment of forms of dementia. This process is protected by a worldwide industrial synthesis patent valid until 2014. The Company is the exclusive supplier to Janssen-Cilag of synthetically produced galantamine.

 For further information please contact:

 Margarita Hoch

Investor Relations Manager

Sanochemia Pharmazeutika AG

Boltzmanngasse 9a-11

Vienna

Austria

Tel.: +43-1-319-1456-35

Fax: +43-1-319-1456-44

E-mail: m.hoch@sanochemia.at

www.sanochemia.at