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Microcap & Penny Stocks : ALRT Medication Reminder System -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (70)	8/11/1999 9:55:00 AM
From: tonto	Read Replies (2) \| Respond to of 102

I have not contacted Technilab. I get an area code switch to 450 but have not reached them. Will continue to try this afternoon. Another article with information already known. MONTREAL (CP) -- Technilab Pharma announced Tuesday it has acquired the Toronto-based AltiMed Pharmaceutical Co., making it the third largest maker of generic drugs in the world. Technilab spent $15 million to acquire the company. Technilab shares closed at $11.60 on Tuesday, an increase of $1.05. Technilab, based in Mirabel, Que., north of Montreal, was founded in 1974 and markets products under the names Technilab, Bio-Chimique, Charton and Rougier. Its three manufacturing centres in Mirabel, Chambly and Trois-Rivieres employ a total of 350 people. It had more than $54 million in revenues in fiscal 1997-98. By comparison, AltiMed, which is based in the Toronto suburb of Mississauga, took in more than $100 million in sales. AltiMed was created in 1996 by the multinationals Hoffmann-La Roche, Pharmacia and Upjohn and Glaxo Wellcome to market generic drugs. Technilab president Jacques Boisvert said the acquisition of AltiMed will give Technilab a three-year jump in its development plans. Boisvert said the acquisition allowed Technilab to add 70 products to its catalogue and offer more services to pharmacists.