PLIVA Completes Divestment of SANCTURA
Upon closing, PLIVA received an up-front payment of USD 45m from Esprit. PLIVA is also entitled to receive additional contingent payments of up to USD 95m, related to four commercial sales milestones. As a result, PLIVA will book an exceptional non-cash charge of about USD 93m in Q2 related to asset impairment.
Following its announcement in May of its intention to exit the proprietary segment, PLIVA has now completed the first stage in this process with the closing of this transaction. The divestment of Odyssey's remaining product portfolio is expected to occur within the next few months and is expected to have a positive impact on 2005 earnings.
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