[April 27, 2012]

FAES FARMA and INVIDA (a MENARINI Company) Announce Agreement to Commercialize Bilastine in 17 Markets in Asia - Pacific

FAES FARMA, a leading Spanish pharmaceutical group dedicated to research, development, manufacturing and marketing of pharmaceuticals, and INVIDA Holdings Private Limited, a Member of the MENARINI Group and leading specialty biopharmaceutical company focused on the Asia Pacific region, are pleased to announce the signing of an exclusive long-term agreement to commercialize bilastine in 17 markets in Asia Pacific.

The agreement allows INVIDA to tap into the strong demand for allergy products in Asia Pacific and covers the key markets of China and Australia, along with other important healthcare markets such as Philippines, Vietnam, Thailand, Singapore, Taiwan and Malaysia. Under the agreement, FAES will receive upfront and milestone payments and will be the exclusive supplier of the Active Ingredient to INVIDA for the region.

Bilastine is a H1 anti-histamine drug approved for the treatment of allergic rhinoconjunctivitis and urticaria in the European Union in 2010 and more recently in some other countries in Latin America. Based on IMS 4Q2011, the Systemic Antihistamine Market (R06A) in the Asia Pacific markets was valued at US$ 412 million, grwing at a 5-year compounded annual growth rate of 13% by value.

INVIDA has a strong track record of commercializing differentiated pharmaceutical brands across the Asia Pacific markets. INVIDA was acquired by the MENARINI Group in November 2011, the largest Italian pharmaceutical company, to expand its presence in the region.

Commenting on the deal, Mr. John Graham, Chief Executive Officer of INVIDA (Menarini Group) said: "We are honoured that FAES has chosen INVIDA to spearhead its reach into the Asia Pacific region. The partnership will enable FAES to leverage on INVIDA's established sales and marketing force of over 3.500 people, while allowing INVIDA to build upon FAES's strong reputation and extensive experience. We are confident that bilastine will be a great addition to our portfolio of high quality healthcare brands, aiding us in our vision to improve the lives of people in the Asia Pacific region."

This agreement will reinforce the partnership between FAES and MENARINI, which already has the rights for bilastine in 51 other countries.

Said Mr. Gonzalo Lopez Casanueva, General Manager of FAES, "With this licensing agreement, another key milestone has been achieved in FAES' strategy of licensing bilastine to first class companies and building a global presence for its H1-antihistamine. INVIDA is our partner of choice for the Asia Pacific region in this endeavour."

About FAES FARMA

FAES is involved in many phases of the healing process. FAES FARMA develops, manufactures, and sells prescription pharmaceuticals, over-the-counter drugs, and chemical raw materials for the pharmaceutical industry. Cardiovascular, respiratory, and central nervous system products are key drug categories; FAES also commercializes therapies for metabolic and inflammatory disorders, osteoporosis, and other conditions. Most of FAES's sales are in Spain and Portugal, but sales in the some 60 countries where it operates are growing, especially in Latin American and African nations. FAES was founded in 1933.

For more information please visit: http://www.faes.es

About INVIDA HOLDINGS PTE LTD (Menarini Group)

Invida improves the lives of patients in Asia by commercializing differentiated pharmaceutical and OTC brands - the result of which will allow all Invida stakeholders to prosper. This is done through proven brand marketing and sales know-how, strong expertise across a number of key therapeutic categories and deep experience in all critical Asian markets. Comprehensive functional capabilities provide rapid market access delivered by passionate team of professionals.

With over 3,500 employees in 13 markets in Asia Pacific, Invida operates across the commercial value chain from regulatory approval and product launch to lifecycle management. We manage a portfolio of proprietary healthcare brands as well as licensed products from small biotech firms and large multinational companies. Partnering is a critical component of Invida's business model. We collaborate closely with our partners in developing effective strategies and put our extensive experience behind maximizing the potential of the assets entrusted to us.

For more information please visit: http://www.invida.com

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