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PLIVA Completes Divestment of VoSpire

10 Nov 2005 - PLIVA d.d. announced that it has completed the divestment of VoSpire of its US branded subsidiary Odyssey Pharmaceuticals Inc., to DAVA Pharmaceuticals Inc., (DAVA) a privately held specialty pharmaceutical company. PLIVA received a total payment of USD 32m for the transaction upon closing as well as the right to additional potential payments of up to USD 35.5m for the achievement of certain milestones. The closing of the transaction will positively impact PLIVA Group results with an exceptional book gain of about USD 25m in the fourth quarter 2005.