CHANGES TO COME AT MEDEVA

1 August 1993

The chairman of Medeva, Bernard Taylor, has indicated that management changes that were planned for some time ahead could now be brought forward as a result of its problems in the USA and the resulting profits warning which was announced last week (Marketletter July 26).

The changes are likely to include the splitting of Mr Taylor's role as chairman and chief executive. Mr Taylor told the Financial Times that he would like "several months to pass" before any changes are considered by the board.

Last week, Medeva's value on the UK stock market fell from L 589 million ($882.6 million) to L 295 million following the profits warning.

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