Goldman Sachs Retained to Explore Strategic Alternatives
November 08 2005 - 7:09AM
PR Newswire (US)
GENEVA, Switzerland, November 8 /PRNewswire-FirstCall/ -- Serono
(virt-x: SEO and NYSE: SRA) Following the information published by
the Wall Street Journal today, the Company confirms that Goldman
Sachs has been retained to explore various strategic alternatives
for the Company. There can be no assurances that any transaction
will be consummated. The Company has no further comment. For Serono
Some of the statements in this press release are forward looking.
Such statements are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements of Serono S.A. and affiliates to be
materially different from those expected or anticipated in the
forward-looking statements. Forward-looking statements are based on
Serono's current expectations and assumptions, which may be
affected by a number of factors, including those discussed in this
press release and more fully described in Serono's Annual Report on
Form 20-F filed with the U.S. Securities and Exchange Commission on
March 16, 2005. These factors include any failure or delay in
Serono's ability to develop new products, any failure to receive
anticipated regulatory approvals, any problems in commercializing
current products as a result of competition or other factors, our
ability to obtain reimbursement coverage for our products, the
outcome of government investigations and litigation and government
regulations limiting our ability to sell our products. Serono has
no responsibility to update the forward-looking statements
contained in this press release to reflect events or circumstances
occurring after the date of this press release. About Serono Serono
is a global biotechnology leader. The Company has eight
biotechnology products, Rebif(R), Gonal-f(R), Luveris(R), Ovidrel(R
)/Ovitrelle(R), Serostim(R), Saizen(R), Zorbtive(TM) and
Raptiva(R). In addition to being the world leader in reproductive
health, Serono has strong market positions in neurology, metabolism
and growth and has recently entered the psoriasis area. The
Company's research programs are focused on growing these businesses
and on establishing new therapeutic areas, including oncology.
Currently, there are approximately 30 ongoing development projects.
In 2004, Serono achieved worldwide revenues of US$2,458.1 million,
and a net income of US$494.2 million, making it the third largest
biotech company in the world. Its products are sold in over 90
countries. Bearer shares of Serono S.A., the holding company, are
traded on the virt-x (SEO) and its American Depositary Shares are
traded on the New York Stock Exchange (SRA). DATASOURCE: Serono
International S.A. CONTACT: For more information, please contact:
Corporate Media Relations: Tel: +41-22-739-36-00, Fax:
+41-22-739-30-85, http://www.serono.com/; Media Relations, USA:
Tel: +1-781-681-2340, Fax: +1-781-681-2935,
http://www.seronousa.com/; Corporate Investor Relations: Tel:
+41-22-739-36-01, Fax: +41-22-739-30-22, Reuters: SEO.VX / SRA.N,
Bloomberg: SEO VX / SRA US; Investor Relations, USA: Tel:
+1-781-681-2552, Fax: +1-781-681-2912
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