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<p align="center"><b>In line with strategic orientation to pharmaceuticals as |
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its core business, PLIVA d.d. (hereinafter PLIVA) has established yet another |
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subsidiary - VETERINA d.o.o. (hereinafter VETERINA)</b></p> |
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<p align="center"> <b>VETERINA d.o.o. Established</b></p> |
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<p> Having redesigned its key business processes and defined a new vision and |
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business strategy, PLIVA has laid strong foundations for being a modern pharmaceutical |
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company oriented to Europe and the rest of the world. Based on strategic orientation |
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to pharmaceuticals as its core business, PLIVA has decided to spin off its Animal |
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Health & Agrochemicals business segment into an independent company in its full |
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ownership.</p> |
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<p> The newly founded company VETERINA shall start its independent operations |
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as of 1 January 2001. Mr. Nenad Stiglic, D.V.M., will be the president of VETERINA's |
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management board. The company is seated in Kalinovica, Svetonedjeljska, but |
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will, till further notice, conduct its business from the current address: Zagreb, |
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Ulica grada Vukovara 49. </p> |
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<p>All existing products from the range of biological and chemopharmaceutical |
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products, as well as feed additives, disinfectants, pest and rodent control, |
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and plant protectants shall remain in the VETERINA's portfolio under their registered |
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names. </p> |
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<p>PLIVA believes that the veterinary production spin off will repeat the success |
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of cosmetics and foodstuffs segments' spin off and that VETERINA, like CEDEVITA |
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d.o.o. and NEVA d.o.o., will assume an equally prominent position on the Croatian |
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and neighbouring markets. </p> |
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<p>VETERINA shall further develop close relations with its customers in desire |
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to meet their specific needs in the field of animal health protection and to |
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upgrade agricultural production as a precondition for health food production |
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and human health protection. </p> |
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<p>Nenad Stiglic, the former director of Animal Health & Agrochemicals business |
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segment, and now the president of VETERINA d.o.o. management board, commented: |
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"Establishment of VETERINA d.o.o. will help us develop and upgrade our core |
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business in a more transparent manner than before. A new organisation and independence |
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of management will give VETERINA more flexibility and opportunity to promptly |
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respond to the changing environment and thus become more attractive and interesting |
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to potential strategic partners". </p> |