Siegfried sells PulmoJet inhalation project to sanofi-aventis

The Siegfried Group (SIX: SFZN) announces the sale of its inhalation project, and therefore its PulmoJet® dry powder inhaler, to sanofi-aventis (where it will be part of Zentiva generics platform) with effect from 1 October 2010. The acquisition price includes a cash upfront-payment followed by royalty payments after market introduction of the products. End Quote

(1888PressRelease) October 04, 2010 - Siegfried CEO Rudolf Hanko: “We looked for a strong industrial partner following the completion of feasibility studies for the PulmoJet® dry powder inhaler developed by us. In Zentiva and Sanofi-Aventis we have found excellent and experienced developer for PulmoJet’s upcoming clinical tests and a guarantor for its successful market introduction. This solution represents a technical and economic win-win situation for all participants and a good day for the PulmoJet® device”.

Strong performance of Siegfried’s development team
Siegfried acquired the rights to the PulmoJet® dry powder inhaler in 2007 and within three years continued to develop the device both technically and pharmaceutically. Currently, two pharmaceutical projects for asthma therapy based on the PulmoJet® platform are in the pipeline. A pharmaco-kinetic study was completed in the spring of 2010. Siegfried did not intend to carry out or finance the upcoming broad clinical tests itself.

Rob Koremans, the CEO of Zentiva, commenting on today’s news said “Today’s acquisition provides a real boost to our plans to extend the range of modern high quality affordable medicines to patients. By acquiring the Siegfried Inhaler Franchise we believe we will have a strong competitive position which will allow us to become a leader in affordable respiratory medicines in the future.”

Siegfried participates in market success
Following market introduction of the two development projects, Siegfried will benefit from related royalty payments. Furthermore, expenses for PulmoJet will cease to apply for Siegfried.

All employees to be retained
Together with the project, sanofi-aventis will acquire the connected Siegfried subsidiary company in Germany. Consequently, about 50 employees at the Munich (development) and Höchstädt (production) locations will change over to sanofi-aventis.

For further information:
Peter Gehler, Chief Communication Officer
Tel. +41 (0)62 746 11 44, Fax +41 (0)62 746 11 03, Mobile +41 (0)79 416 41 16
peter.gehler ( @ ) siegfried dot ch
Siegfried Holding AG
Untere Brühlstrasse 4
CH-4800 Zofingen
Tel. +41 (0)62 746 11 11
Fax +41 (0)62 746 11 03
www.siegfried.ch

About Siegfried
Active in Life Science markets, the Siegfried Group is a global manufacturer of pharmaceutical products with production facilities located in Switzerland, Germany, Malta and the USA, Siegfried currently has approximately 850 employees and achieved annual sales of approx. CHF 283 million in 2009.

Siegfried is active in both the primary and secondary production of drugs. The company develops and manufactures active pharmaceutical ingredients for the research-based pharmaceutical industry as well as the corresponding intermediate steps and standard products, and provides development and production services for drugs in finished dosage forms. Siegfried Holding AG is listed on the Swiss Exchange in Zurich (SWX: SFZN).

About sanofi-aventis
Sanofi-aventis, a leading global pharmaceutical company, discovers, develops and distributes therapeutic solutions to improve the lives of everyone. Sanofi-aventis is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).

About Zentiva
Zentiva, part of the sanofi-aventis Group, is a leading provider of modern, high quality affordable medicines in Central and Eastern Europe. Zentiva is headquartered in Prague, Czech Republic.

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