SOURCE: Basilea Pharmaceutica AG

March 19, 2008 13:45 ET

Annual General Meeting of Shareholders of Basilea Pharmaceutica Ltd.

BASEL, SWITZERLAND--(Marketwire - March 19, 2008) -


Basel, Switzerland, March 19, 2008 - Basilea Pharmaceutica Ltd. (SWX: BSLN) shareholders approve all Board of Directors' proposals at the Annual General Meeting.

Today, the shareholders of Basilea approved the annual report, the statutory and consolidated financial statements for the financial year 2007, as well as the release of the members of the Board of Directors and management. Shareholders also approved a partial release from the legal reserve to the free reserve as well as offsetting the free reserve with the accumulated loss. Dr. Anthony Man and Mr. Ronald Scott were re-elected as members of the Board of Directors, both for a term of three years. Dr. Walter Fuhrer, Prof. Daniel Lew, and Prof. Peter van Brummelen were re-elected as members of the Board of Directors for a term of one year, while Mr. Steven Skolsky was elected as a new member of the Board for a term of three years, replacing Dr. Gottlieb Keller. In addition, shareholders re-elected PricewaterhouseCoopers AG, Basel, as statutory auditor and group auditor for the business year 2008, and approved changes to the Articles of Association to permit the implementation of a holding structure to support the potential future distribution of Basilea products. In the meeting of the Board of Directors, Mr. Werner Henrich was confirmed as Chairman of the Board of Directors, and Dr. Andreas Wicki as Vice-Chairman.

The Annual General Meeting for the financial year 2007 was attended by shareholders who represented 40.3% of the total share capital of the company.

In his presentation to shareholders, Anthony Man, MD, Basilea's CEO, commented: "The year 2007 was remarkable with the regulatory submissions for Ceftobiprole and Alitretinoin that signal our transition from a pure research and development organization to a fully integrated biopharmaceutical company. In parallel to preparing our sales & marketing organization we have developed the marketing and brand strategies for the anticipated products to seek their full market potential."

About Basilea

Basilea Pharmaceutica Ltd. is an integrated biopharmaceutical company headquartered in Basel, Switzerland, listed on the SWX Swiss Exchange (SWX: BSLN). The company focuses on the discovery, development and potential commercialization of innovative medicines to satisfy high medical and patient needs in the hospital and specialty pharmaceutical setting. Basilea has a diversified product pipeline including novel treatments for resistant bacterial infections, systemic fungal infections and severe skin diseases. The portfolio comprises three late-stage product candidates and substantial earlier stage programs. Basilea is currently building its sales and marketing organization in the U.S. and major European markets to promote alitretinoin and co-promote ceftobiprole subject to approval.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.


For further information, please contact:

+--------------------------------------------------------------+
| General Information         | Investor Relations             |
|-----------------------------+--------------------------------|
| information@basilea.com     | Dr. Barbara Zink               |
|                             | investor_relations@basilea.com |
+--------------------------------------------------------------+


This press release can be downloaded from www.basilea.com

The press release can also be downloaded from the following link:

http://hugin.info/134390/R/1202571/246304.pdf



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