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R.P. SCHERER ACQUIRES EUROPEAN SOFTGEL COMPANY

 TROY, Mich., July 12 /PRNewswire/ -- R.P. Scherer Corporation (NYSE: SHR) announced today that it has completed the acquisition of Pharmagel S.p.A., and Pharmagel S.A., for an aggregate purchase price of approximately $30 million cash, financed primarily with bank debt.
 Pharmagel S.p.A., located in Lodi (Italy), and Pharmagel S.A., located in Neuvic (France), had combined sales in calendar 1992 of $25 million and have a combined work force of approximately 200 people. Prior to the acquisition by Scherer, Pharmagel was privately held.
 In commenting, the Company stated that, "this acquisition provides us with the ready capacity necessary to meet our growth targets for this business segment. The existing network of manufacturing facilities in Europe will allow us to improve our cost structure through consolidation of certain functions and plant specialization, while increasing flexibility and responsiveness to market conditions."
 Dr. Guido Peviani will continue in his current position as Managing Director of Pharmagel S.p.A. for the foreseeable future.
 R.P. Scherer Corporation, an international developer and manufacturer of drug delivery systems, is the world's largest producer of soft gelatin capsules ("softgels"). The Company is currently developing and commercializing advanced drug delivery systems, including SCHERERSOL(TM), ZYDIS(R) and PULSINCAP(TM) technologies. The Company's proprietary drug delivery systems improve the efficacy of drugs by regulating the dosage, rate of absorption and place of release. The Company operates a global network of 16 facilities in 11 countries.
 -0- 7/12/93
 /CONTACT: Nicole Williams, Executive VP & CFO, R.P. Scherer, 313-649-0900/
 (SHR)


CO: R.P. Scherer Corporation; Pharmagel S.p.A.; Pharmagel S.A. ST: Michigan IN: MTC SU: TNM

SB -- DE013 -- 0294 07/12/93 09:44 EDT
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Publication:PR Newswire
Date:Jul 12, 1993
Words:284
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