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Home Industry News Pliva announces first-half results, appoints board members

Pliva announces first-half results, appoints board members

10th August 2007

Pliva has announced its financial results in accordance with international financial reporting standards for the first half of the 2007 financial year and has also announced a number of changes to its management board.

In the first half of the year, the company recorded revenues of 4,100 million Croatian kuna (381.25 million pounds), up 27.2 per cent on the first half of 2006.

This increase in revenue was driven by a four per cent increase in product sales to 3,201 million Croatian kuna, with this rise attributed to enhanced performance in the US, Germany, Poland and Croatia.

“Revenue was positively impacted by a one-off increase in Other Income of about 800 million Croatian kuna resulting from the transfer of ownership of Pliva’s US business to its parent company Barr in April 2007,” the company reports.

Additionally, the supervisory board of the company appointed two executives from Barr – its parent company – to its management board.

These new board members are Michael Bogda and Christine Mundkur – executive vice-president of global product supply and executive vice-president of quality, safety and regulatory affairs respectively.

Earlier this month, Pliva announced the resignation of Paul M Bisaro as president and chief operating officer of Barr, while forecasting that his departure would not adversely affect the integration of Pliva into the company, which is almost complete.

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