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About CHEMO

“We are finalizing preparations to buy a US company”

Madrid. US FDA (Food and Drug Administration) has just granted approval to the company to import products manufactured at Leon Farma into the US.

What does US FDA approval mean to Chemo?

The FDA has granted approval to import pharmaceutical products into U.S. only to few plants in Spain. We are the second company in Europe and the first plant in the world to obtain this approval. It also represents a guarantee to access other markets. In five years, we want 80% of our turnover to come from products sold in the US marketplace.

What does this plant manufacture?

The FDA has granted approval to import pharmaceutical products into U.S. only to few plants in Spain. We are the second company in Europe and the first plant in the world to obtain this approval. It also represents a guarantee to access other markets. In five years, we want 80% of our turnover to come from products sold in the US marketplace.

What products are you going to import to the United States?

We will import six compounds manufactured by us. We have signed an agreement with one of the main generic pharmaceutical company in the United States. We want to be present in the US marketplace with our own line of products. We are negotiating to buy a gynecology company in the United States.

How much do you think to increase your turnover this year?

In 2007, the turnover was 400 million, and the company's expected global figure is 450 million. In addition, we expect to invest in assets up to 33 million euros this year, out of which 17 million will correspond to Spain. We have invested 130 million euros in assets between 2003 and 2007.

How many plants do you have in Spain?

We have 10 production facilities in Spain, Italy, France, India and Argentina, 14 commercial offices and we have participation in several pharmaceutical companies. We have three plants in Spain: one in Alcalá de Henares (Madrid) that manufactures chemical Intermediates; another in Azuquera de Henares (Guadalajara) focused on the development of solid formulations, and Leon Farma plant. 80% of our production is exported. At Leon Farma plant, we plan to invest 20 million euros in the next five years to duplicate its productive capacity. Additionally, we have 13 research and development centers located in each of the above mentioned plants, and R&D investment for this year is planned to be 25 million euros.

How many business units does Chemo have?

20 percent of our sales derive from the sales and purchase of raw material to third parties. 60 percent derive from the manufacturing of raw material for generic companies, and the remaining percent derives from our new gynecology brand name product business unit. This last business area did not exist four years ago, and now we want to promote these products on a worldwide basis. In Spain, we market our products through our firm, Effik S.A.

Which products are the most sold?

The most sold products are omeprazole and lansoprazole. Regarding our brand name products, we have Profefflik and Lomexin. During this year, we plan to launch 15 generic and brand products.

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