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Address Change
We are moving during March 2009 to:
1 New Road,
(c/o New Road & 7th Street),
Midrand,
South Africa,
Private Bag X69,
Bryanston,
2021,
South Africa
Telephone: +27 11 635 0000
Adcock Ingram Lists on the JSE
Adcock Ingram Lists on the JSE
Today, approximately 172.6 million Adcock Ingram ordinary shares were listed on the Main Board of the JSE in the "Pharmaceuticals" sector, as Tiger Brands unbundled its shareholding in Adcock Ingram. Adcock Ingram's share price at 9am was R34.05.
Adcock Ingram is a leading South African healthcare group with an overall 11.3% share of the private healthcare market. Adcock's Pharmaceutical division holds the No. 1 position in OTC medicines and the No. 2 position in prescription generics. Adcock has leading market shares in key segments, with two prescription brands (namely Synap Forte and Adco-Zolpidem) ranked No. 1 in their respective treatment segments. In addition, Adcock has three of the top ten OTC brands: Adco-Dol, Panado and Corenza C.
Adcock's Hospital Products division is South Africa's leading supplier of hospital and critical care products; these include blood systems, accessories and products used for renal dialysis. The division has leading market shares: estimated by management to be 36% in renal and 64% in blood, as well as significant market positions in medicine delivery and scientific products.
Commenting on the listing, Adcock Ingram CEO Dr Jonathan Louw expressed the company's enthusiasm on the landmark occasion: "This very exciting day for Adcock marks the highlight of our 100 year brand history. Our ten senior executive managers have over 100 years of combined industry experience and have been with Adcock on a combined basis for over 50 years. They, and the entire Adcock team, have been instrumental in getting our company to this point. We all look forward to generating positive shareholder returns through our commitment to adding value to life".
Adcock has a strong pipeline of new products across all therapeutic areas and product lines. Adcock also recently launched an anti-retroviral drug portfolio, researched and developed in its World Health Organisation approved R&D facility. Further strengthening the company's investment case, Adcock has been successful in sourcing and maintaining a number of in-licensing agreements with leading global healthcare companies.
Adcock is ideally placed to take advantage of the growth opportunities in the South African economy. The South African healthcare market benefits from favourable demographic trends, such as Government initiatives to combat HIV/AIDS, sustained growth in the middle class and increased accessibility to healthcare products. Importantly, through its low-cost manufacturing facilities in South Africa and India, Adcock is able to maintain a cost-efficient manufacturing base.
Commenting on Adcock's prospects, Dr. Louw continued: "The unbundling and subsequent listing of Adcock presents us with opportunities that will enable us to drive our vision of being recognised as a leading, world-class branded healthcare company. We look forward to pursuing organic growth opportunities and acquisitions in selected markets, developing exportable competencies, and implementing meaningful transformation across the business. We are particularly excited by our investment into the business which includes ongoing upgrades and capacity expansions of existing facilities, the construction in 2009 and 2010 of a green-fields high volume liquids manufacturing facility in South Africa; and our development of a state of the art distribution centre due for completion in 2008, centrally and closely located to 65% of our customers. This establishes the platform for the exciting future and continued success of Adcock Ingram."
Reference: Adcock Ingram
Date: 25 August 2008
