6 July 2010

Albion Ventures invest £2.65m into Masters Pharmaceuticals Ltd as new Chairman appointed

Albion Ventures can today announce that it has invested £2.65m in Masters Pharmaceuticals Ltd (Masters) as sole investor. Masters is a specialist international supplier and distributor of pharmaceutical products and the investment will be used for continued expansion in its core markets of Latin America, the Middle East and the Caribbean. Masters is also seeking to open new markets in Asia.

Albion Ventures can also announce that Masters has appointed Bill Burns as non-executive chairman of its Board. Mr Burns is a high profile figure in the pharmaceutical industry with over 40 years experience in the sector most recently as CEO of Roche Pharmaceuticals. Mr Burns will build on Masters’ current strong organic growth through targeted acquisition and partnering opportunities.

Masters was founded in 1984 by Zulf Masters, who is joining with Albion Ventures investing in the company’s next stage of growth. Masters operates primarily in the international supply of licensed drugs into unlicensed territories providing access for international markets to drugs that are commonly available in the US and Europe but hard to access from outside those markets. Other activities are centred on specialist wholesale distribution of generic and branded pharmaceuticals.

Andrew Elder, Partner, Albion Ventures said: “Masters is an attractive investment for us because it operates within a global market that is experiencing a huge increase in demand for leading US and European drugs and treatments. There is real potential for it to become the market leader in this space and the appointment of Bill Burns adds real depth to an already talented and experienced management team.”

Dave Moran, Chief Executive Officer, Masters said: “Albion Ventures understand the pharmaceutical sector and what we want to achieve. We are impressed with their experience and track record and look forward to creating a market leading position with them and our new chairman, Bill Burns. His experience and distinguished leadership will enable us to actively pursue our expansion strategy in our existing and new potential markets.”