SBL Vaccin acquisition approved by ACTIVE's Annual General Meeting
The shareholders' Annual General Meeting yesterday approved the move to acquire SBL Vaccin AB from the Swedish state.
SBL Vaccin has a 50% share of the Swedish market for vaccines, and will shortly be launching three new vaccines on the international market. These have been developed in-house and are inoculations for polio, ETEC diarrhea and cholera.
Assuming successful registration of the medicines, expected to take place in 1999/2000, SBL forecasts net profits following launch of the vaccines to be over SEK 200 million per year.
The purchase sum amounts to SEK 100 million, as well as three further tranches of SEK 15 million, linked to demands on SBL's turnover for the years 1997, 1998 and 1999.
Following the successful registration of the ETEC and cholera vaccines, an additional total sum of SEK 105 million will be payable.
In order to focus more clearly on research, ACTIVE is also injecting SEK 200 million in conjunction with the takeover. This will take SBL's shareholders' equity to SEK 300 million.
ACTIVE Group profits after net financial items amounted to SEK 25 million for the first quarter of 1997. The AGM approved a dividend of SEK 10 per share to be paid on 15 May.
Hans Lindell, Bo Håkansson, Lars Jonung and Pehr Lagerman were re-elected onto the Board of Directors, and Lena Apler and Staffan Svenby were elected as new members.
Malmö, 13 May 1997 ACTIVE i Malmö AB (publ)
Bo Håkansson Managing Director