Plexus Ventures Concludes Product Divestment Assignment

Los Angeles, California Plexus Ventures is pleased to announce the successful completion of its most recent divestment project. Plexus provided professional services to Novartis Consumer Health in the divestiture of Procto-Glyvenol®, an OTC anti-hemorrhoid product in 11 Central and Eastern European markets to Recordati.

“This transaction involved significant complexity due to the diversity of Territory involved. Working jointly with the two experienced and professional teams at the negotiating table, we were able to help resolve certain significant differences to achieve success,” said Pino Modica, Plexus Managing Partner.

Additional details of the transaction, as published by La Repubblica, January 19, 2011:

Recordati announces the acquisition of the marketing authorizations, the brand and the rights to the product Procto- Glyvenol(®) from Novartis Consumer Health for the following countries: Poland, Russia, Turkey, Romania, Czech Republic, Slovakia, Ukraine, Portugal, the Baltic countries and Cyprus. Procto-Glyvenol(®) is indicated for the localized treatment of internal and external hemorrhoids and is currently on the market in the countries included in the agreement.

“The acquisition of Procto-Glyvenol(®), a leading brand in its class, is in line with our will to strengthen our presence in the Central and Eastern European markets including Turkey” declared Giovanni Recordati, Chairman and CEO. “It is a growing product in a growing market, especially in Russia where this segment registers an average growth rate of 21%. We expect the overall product’s sales in the countries for which we have acquired rights to be of around EUR 12 million in 2011.”