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AUSTRALIAN DRUG FIRM MAYNE ACQUIRES GERMAN FIRM.

AsiaPulse News

| May 03, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, May 3 Asia Pulse - Mayne Group Ltd (ASX:MAY), an Australian pharmaceutical operation, has acquired for 25 million euro ($US29.95 million) German pharmaceutical manufacturing business Wasserburger Arzneimittelwerk Dr Madaus GmbH.

Mayne Group said today it had completed the acquisition of all the shares in the German firm.

Mayne will assume about 15 million euros worth of debt and said the acquisition was another building block in the company's international growth strategy.

"This world-class pharmaceutical manufacturing business will provide Mayne with immediate earnings, increased capacity and ...

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Source: HighBeam Research, AUSTRALIAN DRUG FIRM MAYNE ACQUIRES GERMAN FIRM.