French Homeopathy Companies Plan to Merge

French Homeopathy Companies Plan to Merge

CASTRES, FranceIn an effortto grow the homeopathic industry in France in the face of price controls andregulatory constraints, the owners of Homeopathie Dolisos and LaboratoiresBoiron plan to merge the companies. A 36 million Euro capital investment ofDolisos will take place prior to the merger, with Dolisos primary shareholderPierreFabre holding a 25 million Euro credit to be refunded after three years. Themerger is subject to approval by French antitrust authorities and must beapproved by shareholders of both companies by the end of 2004.

This merger highlights the confidence between the twohouses and will allow us to develop homeopathy at the service of patients asstated in the Contract for Progress addressed to public authorities, saidChristian Boiron.