The company develops and markets improved versions of existing drugs for the domestic market and export.
Drug development and distribution company Mediline Ltd. has filed a draft prospectus to raise NIS 60 million in an IPO on the Tel Aviv Stock Exchange (TASE) at a company value of NIS 120 million, after money. The company plans to raise half the amount in shares and half in bonds.
Mediline was founded by general manager Stello Robinson as the Revlon representative in Israel. Revlon later sold its pharmaceutical business, and Robinson turned Mediline into an independent representative of international pharmaceutical companies. The company now develops, produces and markets improved versions of existing drugs, and sells some of these products in Canada, Greece and Eastern Europe, as well as domestically. In the US, the company markets anti mouth herpes and diaper rash products, after acquiring small well established brands.
Mediline is going public in order to expand its drug development activity.
Published by Globes [online], Israel business news - www.globes.co.il - on May 17, 2007
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