GENEVA, April 29 /PRNewswire-FirstCall/ -- Serono (virt-x: SEO; NYSE: SRA)
announced today that Mr. Allan Shaw has resigned, for personal reasons, from
his position as Chief Financial Officer and member of the Executive Management
Board at Serono International S. A.
Effective today, Mr. Jacques Theurillat will assume, on an interim basis
and until a successor is identified, the responsibility as Chief Financial
Officer, in addition to his current roles of Deputy Chief Executive Officer
and President of European and International Sales & Marketing. He was
previously Serono's CFO from 1996 until 2002.
Some of the statements in this press release are forward looking. Such
statements are inherently subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or achievements
of Serono S.A. and affiliates to be materially different from those expected
or anticipated in the forward-looking statements. Forward-looking statements
are based on Serono's current expectations and assumptions, which may be
affected by a number of factors, including those discussed in this press
release and more fully described in Serono's Annual Report on Form 20-F filed
with the U.S. Securities and Exchange Commission on March 25, 2004. These
factors include any failure or delay in Serono's ability to develop new
products, any failure to receive anticipated regulatory approvals, any
problems in commercializing current products as a result of competition or
other factors, our ability to obtain reimbursement coverage for our products,
and government regulations limiting our ability to sell our products. Serono
has no responsibility to update the forward-looking statements contained in
this press release to reflect events or circumstances occurring after the date
of this press release.
About Serono
Serono is a global biotechnology leader. The Company has seven recombinant
products, Rebif(R), Gonal-F(R), Luveris(R), Ovidrel(R)/Ovitrelle(R),
Serostim(R), Saizen(R) and Zorbtive(TM) (Luveris(R) is not approved in the
USA). In addition to being the world leader in reproductive health, Serono has
strong market positions in neurology, metabolism and growth. The Company's
research programs are focused on growing these businesses and on establishing
new therapeutic areas. Currently, there are approximately 30 ongoing
development projects.
In 2003, Serono achieved worldwide revenues of US$2,018.6 million, and a
net income of US$390.0 million, making it the third largest biotech company in
the world. Its products are sold in over 90 countries. Bearer shares of Serono
S.A., the holding company, are traded on the virt-x (SEO) and its American
Depositary Shares are traded on the New York Stock Exchange (SRA).
SOURCE Serono
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CONTACT:
Corporate Media Relations: +41-22-739-36-00,
fax, +41-22-739-30-85, or Media Relations, USA: +1-781-681-2340,
fax, +1-781-681-2935, or Investor Relations, USA:
+1-781-681-2552, fax, +1-781-681-2912, or Corporate Investor
Relations: +41-22-739-36-01, fax, +41-22-739-30-22, for Serono
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