PLIVA d.d. (ZSE: PLVA-R-A), a subsidiary of Barr Pharmaceuticals, Inc. ("Barr"), today reported financial results for the six month period ended 30 June 2008, prepared in accordance with International Financial Reporting Standards (IFRS). PLIVA reported total revenue of HRK 2,295m for the first half ended 30 June 2008, a decrease of HRK 1,715m compared to revenues of HRK 4,010m in the prior year period, which were positively impacted by significant intragroup product sales to Barr in the first quarter of 2007 and the gain on the sale of the PLIVA US business to Barr in the second quarter of 2007. The first half 2007 revenues also included our Italy and Spain operations, which were both sold in the second half of 2007. Excluding these revenue impacts from the first half of 2007, revenues increased approximately 2% in the first half of 2008 compared to prior year.
For the current period, Earnings Before Interest and Tax (EBIT) was negative HRK 44.4m and Net loss was HRK 102m.
As of 22 July 2008, PLIVA completed its delisting from the London Stock Exchange after completing the termination of its GDR program in June.
About PLIVA d.d.
PLIVA d.d., based in Zagreb, Croatia, serves as the European headquarters for Barr Pharmaceuticals, Inc., a global specialty pharmaceutical company that operates in more than 30 countries. The Barr Group of companies is engaged in the development, manufacture and marketing of generic and proprietary pharmaceuticals, biopharmaceuticals and active pharmaceutical ingredients. The Barr Group of companies markets more than 120 generic and 27 proprietary products in the U.S. and more than 1,025 products globally outside of the U.S., in the key markets of Croatia, Germany, Poland and Russia. For more information, visit www.barrlabs.com.