GSD Goldshield Grp

RNS No 4452f
GOLDSHIELD GROUP PLC
8 June 1999
                            

                  GOLDSHIELD GROUP PLC
                 Acquisition of Lomotil

Goldshield  Group PLC today announces the acquisition  of
Lomotil  from Searle, a division of Monsanto PLC,  for  a
cash consideration of #4.75m.

Lomotil, a prescription medicine in tablet form, is  used
in  the  prevention  and treatment of  diarrhoea.  It  is
number  two in the market behind Imodium. The therapeutic
application  fits comfortably with Goldshields  existing
product portfolio.

Lomotil  is  currently sold in the UK,  the  Republic  of
Ireland  and  Portugal and total profits attributable  to
Lomotil  in these markets for the year ended 31  December
1998 were #0.7 million. These profits were achieved under
Searles charging structure and cost base. Sales  in  the
UK  for this period were #1.8 million at trade price (BPI
12/98).

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

"Lomotil fits our acquisition criteria perfectly being  a
niche product in a growing and sizeable market."

For further information please contact:

Buchanan Communications                 0171 466 5000
Andy Yeo/Tom Gadsby

Goldshield  Group  plc  will  be  announcing  Preliminary
results for the year ended 31 March 1999  in early July.


END

ACQDDFFBKQKXBKV

Goldshield (LSE:GSD)
Historical Stock Chart
From Jun 2024 to Jul 2024

Goldshield (LSE:GSD)
Historical Stock Chart
From Jul 2023 to Jul 2024