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Enaleni Pharmaceuticals Limited - Top executives commit to Enaleni
ENALENI PHARMACEUTICALS LIMITED
(Incorported in the Republic of South Africa)
Registration number: 2002/018027/06
JSE Code: ENL
ISIN: ZAE000067740
Press Release
Embargoed: August 2006
Top executives commit to Enaleni
Enaleni Pharmaceuticals Limited, South Africa"s fastest growing
pharmaceuticals group and which listed on the JSE last year, has extended
the services of Cipla Medpro chief executive Jerome Smith for another two
years, and has also employed a new chief operating officer, Piet du Toit,
who will be joining Enaleni Limited from 1 October 2006.
Smith, who was one of the shareholders who sold Cipla Medpro to Enaleni,
has signed a contract committing himself to the group until the end of
2008, although there is no reason that he will not continue at Enaleni
beyond this date. He will oversee Enaleni"s pharmaceutical division, become
an executive director of the Enaleni board and sit on the group"s new
executive committee.
Two other Cipla Medpro executives, Duncan Watermeyer and Chris Aucamp, will
also sit on the new committee, which includes the executives who lead the
various operating divisions of the Enaleni group.
Trevor Edwards, the chief executive officer of the Enaleni group, said
Smith"s commitment was a boost to the group because it would secure his
pharmaceutical experience and management expertise.
"Jerome is a very valuable member of our team," said Edwards. "He is a
major shareholder in the Enaleni group and is strategically aligned with
our vision for the future. In his new role, he"ll add value to the group
and bring a tremendous amount of experience that is testimony to the
success that Cipla Medpro has achieved."
Smith is a successful entrepreneur who established Medpro Pharmaceutica,
one of the first generics companies in South Africa, in 1992. He aligned
the company with India"s Cipla Limited to supply many of its products to
the South African market. Cipla Limited is a world leader in the
manufacture of ethical generics and is ranked the number one generics
pharmaceutical manufacturer in India and Asia. Smith has extensive
experience with multinational pharmaceutical companies, including Janssen
Pharmaceutica and Wyeth Laboratories.
Piet du Toit, the new chief operating officer, joins Enaleni from generics
pharmaceutical company Micro Healthcare in Bethlehem, where he was the
residential director responsible for factory production.
He has worked in the pharmaceutical industry since 1984, having established
and/or managed several companies, including Labethica, Quatromed and
Qestmed. He began his career at SA Druggists (now part of Aspen
Pharmacare).
"This is a very important appointment for Enaleni," said Edwards. "Piet
comes with an enormous amount of industry experience. He will be
responsible for all operations related to production, taking over the
entire pharmaceuticals factory, the consumer factory, contract
manufacturing, operations, distribution, logistics and tendering, and
bringing in new business. He will also be driving our business to its next
level in terms of PIC compliance."
He added that that Du Toit, who will also sit on the group"s new executive
committee, would be heading a very competent and experienced team of
managers at Enaleni, thus helping to take the group"s growth and production
processes to a higher level.
The new appointments serve to further strengthen the Enaleni executive team
after Edwards extended his contract with the group until the end of 2008
and former Ernst & Young partner Andy Hall joined in July as the new chief
financial officer. The appointment of Hall, who is both a pharmacist and
chartered accountant, has allowed Stan Whitfield to focus on acquisitions
and business development. Whitfield will remain as an executive director of
the company in the capacity of commercial director.
Ends
Issued on behalf of Enaleni Pharmaceuticals by:
AHOY! PR
Contact: Dermott White
Tel: 031 201 4382
E-mail: dermott@ahoypr.co.za
More about Enaleni
Founded as a start-up in 2003, Enaleni Pharmaceuticals Limited is the
fastest growing pharmaceuticals company in South Africa and has developed
into a group with a market capitalisation of approximately R1.7 billion.
Now listed on the JSE, it is the country"s third largest generics provider
and one of the top 10 pharmaceuticals companies in South Africa. It is also
the country"s top black economic empowerment pharmaceuticals company and
the fourth most empowered company quoted on the entire JSE, as rated by the
Financial Mail. Enaleni also has an AA rating from empowerment ratings
agency Empowerdex.
The company has now completed 10 takeovers since 2003, extending its
product range from pharmaceuticals and medicines to cosmetics and vitality
and wellness products. The largest of these acquisitions was generics
pharmaceutical company Cipla Medpro in November 2005, at R1.2 billion one
of the biggest deals ever in the domestic pharmaceuticals industry.
Enaleni"s strategy is to build a well-balanced portfolio of two business
units, the Pharmaceutical division and the Consumer and Vitality division.
The pharmaceutical division includes Cipla Medpro, FirstPharm and the
contract manufacturing business. The division has increased its market
share in the past year from 12th position to 10th, according to IMS.
The consumer business continues to focus on affordable health- and personal
care products and includes vitality and wellness brands Bioharmony and
Muscle Science.
Based in Durban, Enaleni is the largest pharmaceuticals manufacturer in
KZN. It employs more than 600 people, and operates out of a 15 000 square
metre manufacturing facility.
Visit www.enaleni.com
Date: 28/08/2006 09:35:04 AM Produced by the JSE SENS Department
