Genesis Pharma S.A.

GENESIS Pharma's turnover increased by 80% in 2002 compared to 2001, peaking at 34 million Euro. This increase, according to the company's CEO Mr. Costas Evripides, is mainly the result of the increase in the existing products' sales growth, the launching of new products (mostly Amgen's products) and the penetration in the Balkan market. Regarding 2003, sales are projected to almost double, peaking at 67 million Euro. The accomplishment of this increase in sales and earnings is mainly due to the dynamic products already launched in Greece , Balkans and Cyprus , where GENESIS Pharma is active, while many new products, being on the final phase of approval, are expected to enrich the company's portfolio. Additionally, the company currently employs more than 100 people, experienced in the pharmaceutical sector, while 60% of them is engaged in sales and marketing.

GENESIS Pharma's main business activity is focused on marketing, sales and distribution of specialised pharmaceutical products emerging from biotechnology research for rare and chronic diseases. The company's product portfolio covers the areas of the Central Nervous System (CNS), Oncology, Haematology, Nephrology and Genetic Disorders, through exclusive agreements with top American and European companies of cellular and molecular technology, such as Amgen, Biogen , Chiron, and Cephalon.

With its headquarters in Athens , GENESIS Pharma has developed a strong regional presence in Southeast Europe , conducting operations in Greece , Cyprus , Bulgaria and Romania . Additionally, company plans include the establishment of representative offices in other Balkan countries, such as Croatia and Slovenia , aiming to completely cover the Balkans.

It's worth mentioning that, according to Mr. Evripides, GENESIS Pharma is the only Greek company-member of the Emerging Biotechnology Enterprises (EBE), an exclusive European biotech organization, member of the European Federation of Pharmaceutical Industries and Associations (EFPIA). Referring to the pharmaceutical sector and its related problems, Mr. Evripides stressed that "2002 has been an excellent year for pharmaceutical biotechnology sector, although the problems related to the hospitals' debts and the low pricing in pharmaceutical products trammels our growth, as all pharmaceutical companies' growth.