Mexico City, May 27th, 2011GENOMMA LAB ANNOUNCES TERMINATION OF LICENSE AGREEMENT
G e n o m m a L a b I n t e r n a c i o n a l S . A . B . d e C . V . (BMV: LAB) (Genomma Lab or the Company) informs the investor public that, by agreement between the parties, has executed a termination agreement to the license agreement of the brand XL-3MR.
Such termination occurred since the parties were not able to reach a convenient agreement with respect to the final negotiations of the supply agreement; therefore Genomma Lab did not start any commercial activity of products under the license of this brand.
As a result of this event, the Company will recover $20 million pesos, which was the total amount paid for the license.
Genomma Lab anticipates that the termination of such license will not have an impact on the
2011 guidance provided by the Company.
It is worth mentioning that Genomma Lab has strongly gained market share during the last months in the anti-flu category with its brand Next, the brand with the highest increase of market share, which became one of the leaders in such category.Company Description
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing pharmaceutical and personal care products companies in Latin America. Genomma Lab develops, sells and markets a broad range of premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has a sound business model through a unique combination of a new product development process, consumer oriented marketing, a broad retail distribution network and a low