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CeNeS Announces Sale of Pharmaceutical Products Raising Total of Over 9m Pounds.


CeNeS Pharmaceuticals plc (Other OTC:CPHAF) (LSE:CEN) today announced that it has received and accepted, subject to shareholder approval, an offer from a subsidiary of Waymade Healthcare Plc of over 9 million Pounds in cash, for three of its four pharmaceutical products ("the Disposal").

The three pharmaceutical products being sold, Diconal, Cyclimorph and Valoid ("the Products"), were acquired by CeNeS from GlaxoWellcome in September 2000. Under the terms of the proposed Disposal, CeNeS will receive 8.3 million Pounds in cash at completion for the sale of the rights to the Products and also an estimated 0.8 million Pounds in cash from the sale of stocks at completion of finished goods and raw materials related to the Products. CeNeS will also collect trade debts that exist at the completion date of approximately 0. …

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