GSD Goldshield Grp

RNS Number:5634T
Goldshield Group PLC
26 March 2002


For Immediate Release:                            07.00 am, 26 March 2002


Goldshield Group PLC


  £4.83 million acquisition of sales, marketing and distribution rights to ten
       pharmaceutical products in the UK & Republic of Ireland from Wyeth


Goldshield Group PLC ("Goldshield"), the profitable, marketing-led, British
pharmaceutical company, today announces that it has acquired the sales,
marketing, manufacturing and distribution rights for the United Kingdom &
Republic of Ireland to 10 products (the "Rights") from John Wyeth & Brother
Limited (a division of Wyeth, formerly American Home Products Corp.) ("Wyeth")
for a total consideration of £4.83 million.  The consideration is to be paid in
cash in three equal instalments, the first of which is payable upon completion,
the remaining instalments are payable on the first and second anniversary of
completion.  This acquisition follows similar deal with Wyeth, announced in
December 2001, whereby Goldshield acquired similar rights to Diamox for Western
Europe and Southern Africa.

The Rights being acquired produced net sales of £2.95 million in the financial
year ended 31 December 2001, (2000: £2.67 million) and, operating under Wyeth's
charging structure and cost base, the profit for the year to 31 December 2001
was approximately £750,000 before tax. The Rights relate to a number of products
that will complement those of Antigen International Limited, (acquired by
Goldshield in November 2001).  The Rights also include a number of key products
used in the treatment of various types of cancer that will complement the range
of oncology products Goldshield currently has under registration with the
Medicines Control Agency and in development. Finally, the acquisition also
includes two products that will extend the Company's rheumatology franchise.

To ensure continuity of supply in the market place, Wyeth and Goldshield have
entered into a transitional service agreement during the term of which Wyeth
will continue to service the products until the relevant marketing
authorisations can be transferred to Goldshield. The companies have also entered
into manufacturing and supply agreements to enable a smooth transition from
Wyeth's manufacture of the products, to which the Rights have been acquired, to
Goldshield.

Ajit Patel, Executive Chairman of Goldshield Group PLC, said:

"In the first two months of 2002 we have already seen encouraging results from
our acquisition of the rights to Diamox. These new products will give a major
boost to the development of the Company's strategies in both secondary care and
palliative care. In particular, it will add three important products to our
developing portfolio in the field of oncology."

                                    - END -

For Further Information, Please Contact:


Goldshield Group PLC                                Tel: +44 (0) 20 8649 8500

Ajit Patel, Executive Chairman
Rakesh Patel, Finance Director

Buchanan Communications                             Tel: +44 (0) 20 7466 5000

Nicola How / Louise Bolton



Notes to editors:

Goldshield Group PLC is a growing and profitable, marketing-led, British
pharmaceutical company based in Croydon, Surrey, it was founded in 1990, to sell
healthcare and pharmaceutical products internationally.  In June 1998 Group
floated on the London Stock Exchange and currently has a market capitalisation
of around £195 million. Sales in the first 6 months of the current financial
year were £50 million (+54% compared to the same period in the previous year)
with a PBT of £7.3 million (+34%).


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