SOURCE: EastPharma Ltd

January 09, 2008 07:52 ET

Opening of Azerbaijan and Uzbekistan offices

LONDON--(Marketwire - January 9, 2008) -


Hereunder is the announcement made on 09 January 2008 by EastPharma's subsidiary Deva Holding A.S. to the Istanbul Stock Exchange:

Deva Holding A.S. announces the successful opening of its authorized representative offices in Azerbaijan and Uzbekistan.

The launch of the Azerbaijan and Uzbekistan offices are further steps in EastPharma's expansion strategy, which is focused on the high growth pharmaceutical markets of Turkey, the former Soviet Union, Eastern Europe and surrounding regions. The offices are responsible for the registration of pharmaceutical products in Azerbaijan and Uzbekistan and liaising with the Azeri and Uzbek Health Authorities.

Azerbaijan and Uzbekistan are among the most under penetrated pharmaceutical markets in EastPharma's target region. Although there is no official data for these markets, the generally accepted market size for these countries is between US$400mn and US$700mn individually.

The offices will initially register selected products from Deva's range of 217 products as well as the products of Saba, the Turkish pharmaceutical producer acquired by EastPharma in May 2007, with the Azerbaijan and Uzbekistan pharmaceutical licensing authorities during the course of 2008.

The Azerbaijan representative office's contact details are as follows:

Sehri Istiklaliyat Kocesi
No: 31,

The Uzbekistan representative office's contact details are as follows:

Yusuf Hachacip Sok

Including these new representative offices, EastPharma's subsidiary Deva has 4 representative offices in total in the former Soviet Union: Georgia, Moscow (Russia), Azerbaijan and Uzbekistan. For further information, please contact:

EastPharma Limited
Idil Bora - Investor Relations
Tel.: + 90 (212) 6929326

Copyright © Hugin ASA 2008. All rights reserved.

Contact Information