Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Douglas Pharmaceuticals to remain in family ownership

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

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news