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GENEVA, Switzerland, September 25 /PRNewswire-FirstCall/ -- On 22nd September 2006, Mr Ernesto Bertarelli, of Gland, notified Serono S.A. that on 21st September 2006 he and Mrs Maria-Iris Bertarelli, of Gingins, and Mrs Donata Bertarelli Spath, of Cheserex, with whom he is linked through a shareholder syndicate, entered into an agreement to sell the Serono S.A. shares they hold directly and indirectly through the company, Bertarelli Biotech S.A., Cheserex, thereby reducing their holding in Serono S.A. to less than five per cent of the voting rights in this company. The share sale contract is accompanied by the standard suspensive terms and conditions of this type of transaction including, in particular, obtaining authorisation from the authorities regarding competition. It will be executed on 3rd January 2007 at the earliest.
Background material
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Forward-looking statements
Some of the statements in this press release are forward looking. Such statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Serono S.A. and affiliates to be materially different from those expected or anticipated in the forward-looking statements. Forward-looking statements are based on Serono’s current expectations and assumptions, which may be affected by a number of factors, including those discussed in this press release and more fully described in Serono’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on February 28, 2006. These factors include any failure or delay in Serono’s ability to develop new products, any failure to receive anticipated regulatory approvals, any problems in commercializing current products as a result of competition or other factors, our ability to obtain reimbursement coverage for our products, the outcome of any government investigations and litigation. Serono is providing this information as of the date of this press release, and has no responsibility to update the forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this press release.
About Serono
Serono is a global biotechnology leader. The Company has eight biotechnology products, Rebif(R), Gonal-f(R), Luveris(R), Ovidrel(R) /Ovitrelle(R), Serostim(R), Saizen(R), Zorbtive(TM) and Raptiva(R). In addition to being the world leader in reproductive health, Serono has strong market positions in neurology, metabolism and growth and has recently entered the psoriasis area. The Company’s research programs are focused on growing these businesses and on establishing new therapeutic areas, including oncology and autoimmune diseases.
In 2005, Serono, whose products are sold in over 90 countries, achieved worldwide revenues of US$2,586.4 million. Reported net loss in 2005 was US$106.1 million, reflecting a charge of US$725 million taken relating to the settlement of the US Attorney’s Office investigation of Serostim. Excluding this charge as well as other non-recurring items, adjusted net income grew 28.4% to US$565.3 million in 2005. Bearer shares of Serono S.A., the holding company, are traded on the virt-x (SEO) and its American Depositary Shares are traded on the New York Stock Exchange (SRA).
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CONTACT: For more information, please contact: Corporate Media Relations:Tel: +41-22-739-36-00, Fax: +41-22-739-30-85. Corporate Investor Relations:Tel: +41-22-739-36-01, Fax: +41-22-739-30-22. Media Relations, USA: Tel:+1-781-681-2340, Fax: +1-781-681-2935. Investor Relations, USA: Tel:+1-781-681-2552, Fax: +1-781-681-2912
