Cosmo Energy Announces Equity Participation of Neopharma LLC in Cosmo ALA
November 30, 2016
Cosmo Energy Holdings Co., Ltd.
Cosmo Energy Holdings (hereinafter referred to as "Cosmo Energy") today announced that it has concluded a shareholders' agreement with Neopharma LLC (hereinafter referred to as "Neopharma"), a prominent pharmaceutical company headquartered in the United Arab Emirates (UAE). The two companies will jointly participate in the manufacturing and distribution of ALA (5-aminolevulinic acid), which Cosmo ALA Co., Ltd. (hereinafter referred to as "CALA") is in the process of developing and commercializing for certain pharmaceutical applications.
Cosmo Energy is confident that Neopharma is the best partner in the Middle East given its extensive experience in the health and pharmaceutical businesses in the UAE where the market for diabetes drugs is large. Furthermore, the company's highly established network in the pharmaceutical industry will enable Cosmo Energy to newly enter the ALA business in the Middle East.
Cosmo Energy hopes that Neopharma's participation in CALA will provide two major advantages; a stronger relationship with oil-producing countries in the Middle East and the concentration of greater financial resources in the energy sector.
1. Shareholding ratio in COSMO ALA Co., Ltd (after/before November 30, 2016)
| After November 30, 2016 (before) | |
|---|---|
| Cosmo Energy Holdings Co.,Ltd | 35%（100%） |
| Neopharma LLC | 65%（ 0%） |
2. Overview of COSMO ALA Co., Ltd. shareholders
<Neopharma LLC>
| (1) Company name | Neopharma LLC | |
|---|---|---|
| (2) Head office | United Arab Emirates | |
| (3) CEO | Dr. B.R. Shetty | |
| (4) Business activities | Manufacturing of pharmaceuticals | |
| (5) Equity | 120 million US dollars | |
| (6) Date established | October 2003 | |
| (7) Number of employees | 450 | |
| (8) Clients | Pfizer, Merck Serono, GSK, Novartis, etc. | |
| (9) Shareholders | Dr. B.R. Shetty | 49% |
| H.E. Sh. Nahyan Bin Mubarak Al Nahyan | 41% | |
| Others | 10% | |
| (10) Key financials | ||
| Sales | 86 million US dollars | |
| Operating income | 22 million US dollars | |
| Net income | 16 million US dollars | |
<COSMO ALA Co., Ltd.>
| (1) Company name | COSMO ALA Co., Ltd. | |
|---|---|---|
| (2) Head office | 1-1-1, Shibaura, Minato-ku, Tokyo, JAPAN | |
| (3) Representative director | Akihiro Muranaka | |
| (4) Business activities | Manufacturing and distribution of ALA products | |
| (5) Equity | 1 million yen (10,000 US dollars) | |
| (6) Date established | December 2004 | |
| (7) Number of employees | 20 | |
| (8) Shareholder | Cosmo Energy Holdings Co., Ltd. | 100% |
3. Other ALA businesses
Cosmo Trade & Service Co., Ltd., a subsidiary of Cosmo Energy, has taken over the ALA fertilizer business from CALA and will continue to operate the business regardless of Neopharma's equity participation in CALA.
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(Contact details for inquiries)
Public Relations & Corporate Branding Group, Corporate Communication Dept.,
Cosmo Energy Holdings Co., Ltd.
TEL +81-3-3798-3101 FAX +81-3-3798-3841