3 December 2008

Recent Investments

Spanish pharmaceutical group Laboratorios Esteve will create a joint venture with Japan's Teijin Pharma to participate in the market of respiratory therapies with oxygen. The new company, to be known as Esteve Teijin Healthcare, will operate in the Spanish market in the business of supply of oxygen cylinders and devices for hospitals, medical insurance companies and individuals.

Esteve wishes to extend its business opportunities beyond the traditional pharmaceutical sector and plans to focus on international growth and access to strategic sectors. Esteve is to compete directly with companies such as Carburos Metálicos in the Spanish market. Laboratorios Esteve posted revenue of 765 million euros in 2007, and has a work force of 2,908 employees.

Source: Expansión 02/12/2008