Goldshield Grp PLC - Acquisition, etc.
June 08 1999 - 3:33AM
UK Regulatory
RNS No 4452f
GOLDSHIELD GROUP PLC
8 June 1999
GOLDSHIELD GROUP PLC
Acquisition of Lomotil
Goldshield Group PLC today announces the acquisition of
Lomotil from Searle, a division of Monsanto PLC, for a
cash consideration of #4.75m.
Lomotil, a prescription medicine in tablet form, is used
in the prevention and treatment of diarrhoea. It is
number two in the market behind Imodium. The therapeutic
application fits comfortably with Goldshields existing
product portfolio.
Lomotil is currently sold in the UK, the Republic of
Ireland and Portugal and total profits attributable to
Lomotil in these markets for the year ended 31 December
1998 were #0.7 million. These profits were achieved under
Searles charging structure and cost base. Sales in the
UK for this period were #1.8 million at trade price (BPI
12/98).
Ajit Patel, Chairman and Chief Executive of Goldshield
Group PLC said:
"Lomotil fits our acquisition criteria perfectly being a
niche product in a growing and sizeable market."
For further information please contact:
Buchanan Communications 0171 466 5000
Andy Yeo/Tom Gadsby
Goldshield Group plc will be announcing Preliminary
results for the year ended 31 March 1999 in early July.
END
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