Knoll And IVAX JV Replaced With Licensing Deals

BASF subsidiary Knoll AG and IVAX Corp have modified their existingbusiness alliance in Europe under which the two each owned a 50% interest in a joint venture company, established in March 1995, which markets generic pharmaceuticals in Germany through BASF Generics GmbH. BASF's 5.2% stake in IVAX (acquired at the time the JV was set up) will not be influenced by the new European alliance, said BASF.

Under the new deal, Knoll has exclusive and semi-exclusive marketing rights in Germany and semi-exclusive rights in another 12 European countries to over 70 generic drugs and to certain proprietary drug products. IVAX will receive royalties on net sales of the licensed products, and has transferred its interest in the JV to Knoll. The alliance permits Knoll and IVAX to independently launch their own versions of the licensed products in any of the 12 countries except Germany, where Knoll has exclusivity.

Thorlef Spickschen, head of BASF's pharmaceutical operations and chairman of Knoll, said: "following our October 1996 acquisition of GNR-Pharma in France and Sudco in the Netherlands, we now have generic drug operations in Germany, France, the Netherlands, Switzerland and Brazil. The broad portfolio of generic products licensed to us by IVAX, along with the potential of our own patented melt-extrusion manufacturing technology, allows Knoll to advance on our European generic drug operations."