INDEPENDENT NEWS

Douglas Pharmaceuticals to remain in family ownership

Published: Fri 30 Nov 2012 01:58 PM
MEDIA RELEASE - November 30, 2012
Douglas Pharmaceuticals to remain in family ownership
Auckland, New Zealand November 30, 2012: New Zealand’s largest pharmaceutical manufacturer is to remain in family ownership.
The company had received a number of purchase offers over the years and recently decided to formalise the process through an Information Memorandum (IM) to prospective purchasers via its advisors Deutsche Bank.
After receiving the offers, Douglas Pharmaceuticals’ founder and managing director, Sir Graeme Douglas considers the best way forward for the company is to retain its private ownership. The company will bolster its export activities through the addition of experienced and qualified executives with emphasis on emerging markets in Asia and Latin America.
“Along with my Board, I remain committed and passionate about the future of our New Zealand-manufactured pharmaceuticals enjoying ever-increasing success in the world markets.”
Founded in 1967 by Sir Graeme Douglas, the company employs 460 people marketing and distributing its product domestically, and exporting to a further 45 countries worldwide, including recent launches in the USA.
ends

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