AstraZeneca International - pharmaceutical company, prescription drugs, medicine manufacturers

Reference code :: wf1963
Published date :: 12 May 2004
Expired date :: 28 September 2031

AstraZeneca PLC and its joint venture partner, (Royal Cosun), announced today that they have reached an agreement to sell Advanta BV to Syngenta AG, for 400 million Euro plus a final net asset value adjustment. Completion will be subject to the necessary regulatory approvals and settlement will be in cash.

The profit realised on the disposal of AstraZeneca’s 50 per cent interest, will be recorded as an exceptional item in AstraZeneca’s accounts below Group Operating Profit and does not form part of the Company’s 2004 anticipated earnings per share range of $2.00 to $2.15 per share, reaffirmed in the announcement of the Company’s first quarter results on 29 April 2004.

Further enquiries to:

Media Enquiries:
Chris Major +44 207 304 5028
Steve Brown +44 207 304 5033
Edel McCaffrey +44 207 304 5034

Investor Enquiries:
Mina Blair-Robinson, +44 207 304 5084
Jonathan Hunt, +44 207 304 5087

Notes for Editors:

Advanta BV is a leading international seeds business Announcements related to this transaction are also being issued today by Cosun, Syngenta AG and Fox Paine, its collaboration partner in the transaction.