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<p><b>Supervisory Board and General Assembly of POLFA Krakow adopt decision to |
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change the companys name </b></p> |
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<p>Zagreb, 14 December 1998 </p> |
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<p>POLFA Krakows General Assembly decided to change the name of the company at |
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its meeting held on 30 November 1998. The new name - PLIVA Krakow - will be |
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officially used after completion of legal procedures dealing with the registration |
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which will be carried out at the Polish court with jurisdiction over the matter. |
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Furthermore, at the same Supervisory Board meeting, the following changes to |
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the Management Board structure were adopted: the resignations of Mr. Jan Matyas, |
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in charge of Marketing and Sales and Mr. Ryszard Ambasz, in charge of Research |
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and Development, were accepted. Thus, the Management Board of POLFA Krakow has |
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reduced the number of its members to four. </p> |
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<p>There are several reasons for deciding to change the name of the company in |
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Krakow. The acquisition of POLFA Krakow in October last year prompted questions |
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about the companys image on the Polish market. In the first place, a dozen |
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other pharmaceutical companies in Poland carry the term POLFA in their name, |
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which makes any marketing campaign quite inefficient, since it is difficult |
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for the market to differentiate one POLFA from the other. Furthermore, POLFA |
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Krakow was not the legal owner of the POLFA trademark. </p> |
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<p>On the other hand, as the largest pharmaceutical company in the region, PLIVAs |
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name is recognised in the pharmaceutical industry as a name that stands for |
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a strong business tradition and excellent co-operation with leading pharmaceutical |
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companies. Furthermore, PLIVAs name is equated with the remarkably successful |
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privatisation of the company and has very positive connotations on the Polish |
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market. These were the main reasons why the daughter company from Krakow has |
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been given a new name - PLIVA Krakow. </p> |
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<p>Commenting on POLFA Krakows name being changed, Zeljko Covic, President of |
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PLIVAs Management Board said: POLFA Krakow has now become a clearly integrated |
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part of PLIVA and its strongest area of business - pharmaceuticals. Thus, PLIVA |
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has truly become a domestic company in Poland. Furthermore, this decision indicates |
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that PLIVA Krakow has definitely become a strong pillar of the parent companys |
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strategy for the beginning of 21st century. </p> |