Dishman Pharmaceuticals acquires Carbogen AMC1S from Solutia

Our Corporate Bureau
23 August 2006

The purchase price included around $9 million as working capital. Dishman Pharmaceuticals and Chemicals took over the shares and assets of Carbogen AMC1S, through its wholly owned subsidiary, Dishman Pharma Solutions AG (DPS) in Brussels yesterday, but with retrospective effect from 1 August, 2006.

Dishman had reached a definitive agreement to purchase the pharmaceutical services business of Solutia Inc., comprising Carbogen AG and AMC1S AG, now merged into one entity in May, 2006.*

Carbogen AMC1S has three production facilities in Switzerland for the manufacture of high potent high value products

Dishman acquired Carbogen AMC1S as a debt-free company and all intellectual property, patents and trademarks, customer contract as well as employees of the pharmaceutical services business have been included in the transaction.

The entire transaction was financed through share capital contribution $22.50 million by Dishman Pharma in its subsidiary and a syndicate loan of $ 52.50 million by ICICI Bank and Rabo International through its Singapore branch to DPS.

Solutia's pharmaceutical services business has world-class research and development facilities at three sites in Switzerland in Aarau, Bubendorl, and Neuland. Carbogen AMCIS differentiates itself by the quality of its technical capabilities and its integrated platform, which provides seamless solutions to the worlds leading pharmaceutical and biotechnology companies.