Currently, only national press releases and media reports are available. If you are interested, you will find these on our German site "Pressestimmen". Only for example, here you will find a selection of translated press reports.

Huge opportunity - At MPH it is a matter of 70%

German Investor Television: 14th July 2011

Since October of last year the shares of MPH have increased by about 30%. "A strong growth share. The share price lastly came back somewhat", says Manuel Hölzle from GBC AG. The analysts have a target share price of EUR 4.75. With this the upward potential is a massive 70%.

"MPH is very well positioned and has extremely strong growth potential", says Manuel Hölzle from GBC AG. The corporation is specialised in the development and acquisition of market authorisations for patent-free pharmaceutical products. Apart from this the corporation is also involved in the provisioning with patent-protected pharmaceutical products for chronic diseases. MPH increased the turnover from 2009 to 2010 by 80% and during the same period the profits also climbed by 80% to EUR 9 million. Also in the first quarter MPH has again been able to record further growth. "The growth trend is intact and we are very optimistic for the year 2011 and the further development at MPH", says Manuel Hölzle.

A closer look at Gerresheimer and MPH

German Investor Television: 14th July 2011

Yesterday the shares of Gerresheimer climbed to the top of the MDAX and reached a three-year climax. The manufacturer of special packaging and medical technology substantially increased its profit and turnover in the second quarter. Although the shares of MPH have only increased by about 10% in the last 12 months, since October the value of the share records a plus of 30%. Manuel Hölzle from GBC AG knows where it is now worth investing.

"Gerresheimer is currently on a really strong path of growth", says Manuel Hölzle. In spite of special encumbrances, the profits increased in comparison to the previous year by 18.8% to EUR 13.3 million in the second quarter. Thanks to an acquisition in Brazil the turnover increased by 5.9 percent to EUR 284.5 million. Gerresheimer is also optimistic for the whole of the year. The prognoses have been confirmed. With the turnover the management anticipates a plus of 6-7% with an EBIT margin of 20%. "From the operative side very, very good prospects", says Manuel Hölzle.

"MPH is very well positioned and has extremely strong growth potential", says Manuel Hölzle from GBC AG. The corporation is specialised in the development and acquisition of market authorisations for patent-free pharmaceutical products. Apart from this the corporation is also involved in the provisioning with patent-protected pharmaceutical products for chronic diseases. MPH increased the turnover from 2009 to 2010 by 80% and during the same period the profits also climbed by 80% to EUR 9 million. MPH has again been able to record further growth in the first quarter. "The growth trend is intact and we are very optimistic for the year 2011 and the further development at MPH", says Manuel Hölzle.

Mittelständische Pharma Holding expands with parallel imports

30 percent growth in the next years - stable operative margin - high dividend payout quota - Free Float will become substantially larger

From Ulli Gericke, Berlin

Börsen-Zeitung (Stock Market Journal), 04th June 2011

The term "grey import" with automobiles is what the Mittelständische Pharma Holding terms as being a parallel import. In both cases it involves re-importing German quality goods, which due to the prevailing taxation or price structures are sold abroad at substantially lower prices, so that they can be sold here below the customary list price. The thing that may have a slightly ambivalent side taste to it with cars - it is not without reason that the word grey import reminds of the dubious grey capital market -, is with pharmaceutical products a politically desired approach. The legislative bodies demand that 5 % of the turnover must be achieved by pharmacies through the import of pharmaceutical products, whereby health insurance funds are able to save roughly EUR 300 million per year.

In fact Boehringer, Bayer and Co sell their pharmaceutical products abroad at substantially lower prices than in Germany due to the lower purchasing power often prevailing in those countries. Haemato Pharm, the operative subsidiary of the Mittelständische Pharma Holding (MPH) then purchases the original pharmaceutical product from a local wholesaler - like Celesio in Greece - so that it can be brought back to Germany and be sold in local pharmacies. The value creation of the Berlin company consists of organising the circulation - which promises savings in the expensive healthcare sector - and (depending on the country of purchase) in replacing the Greek, Czech or Spanish language package leaflet through a German one.

9 percent Ebit margin

Alone with oncological pharmaceutical products MPH achieved a turnover of nearly EUR 100 million in 2010. In an interview with the Börsen-Zeitung (stock exchange journal) chief financial executive Christian Pahl specified the achievable raw margin as being roughly 7% with this arbitrage business. The company MPH, which was founded at the end of 2008, achieves a multiple of this meagre trade margin in their generics business. The Berlin company is also not actively engaged as a pharmaceutical product manufacturer in this business field, but restricts itself to the acquisition of licenses and active substances, with which contract manufacturers then produce and package pharmaceutical products. In this business with generics, with which in the last year however only a revenue of EUR 17 million was achieved, a raw margin of roughly 40 % can be earned according to Pahl. Both divisions together result in a raw margin of 15 %, out of which thanks to the low other costs, an earnings result before interest and taxes (Ebit) of a relatively stable 9 % then results.

With a turnover of EUR 112.4 million in the last year the company MPH achieved an operative profit of EUR 10.4 million and a surplus of EUR 9.1 million. The profit per share has therefore nearly doubled from the previous year at 13 Cent to now 24 Cent. The main shareholders meeting at the end of June will present the proposal to pay out 20 Cent for holders of preferential shares and 17 Cent for ordinary shares. Pahl wants to continue with this generous payout policy in the future.

The 38.05 million shares are divided in two equal parts in preferential and ordinary shares. The shares with entitlement to vote are completely in the hands of the holding company Magnum, which in turn belongs to the family Brenske. Patrick Brenske is responsible for the operative business on the board of management of the company MPH. Apart from the ordinary shares, Magnum also holds well on half of the preferential shares. Nearly a further third was owned for quite some time by the real estate company Windsor, which also belongs to Magnum. As however Windsor is successively parting from MPH shares, Pahl estimates the proportion of the Free Float in the Pharma Holding at currently approximately 30 %. His goal is to abolish the preferential shares, which are unpopular with investors as they are non-voting, by combining both of the share types at the next main shareholders meeting in 2012.

In the first three months of 2011 the company MPH extended their turnover further to 35.1 million, with an Ebit of EUR 3.2 million. In the whole of the current year the Berlin company wants to ramp up to 145 million, which is to be followed in 2012 again by a 30 percent plus to nearly EUR 190 million. With a stable operative margin the Ebit should rise above EUR 13 million to 17 million in 2012.