The company has $20 million revenue a year from pharmaceutical production and marketing, and is profitable.
Sources inform ''Globes'' that pharmaceutical company Mediline Ltd. is planning to raise $10 million in an IPO on the Tel Aviv Stock Exchange (TASE). In contrast to a number of the life sciences start-ups that have floated on the TASE in the past 18 months, Mediline is not a start-up, but a veteran company, founded in 1983, with sales and profits. Although it develops and manufactures drugs, the company’s core business is marketing.
Mediline began as the Israeli representative of Revlon, but posts $20 million revenue a year from pharmaceutical production and marketing, and is profitable. Mediline founder, owner and managing director Stello Robinson said, “We don’t need additional financing to be a stable and strong company, but we now want to expand.”
Published by Globes [online], Israel business news - www.globes.co.il - on January 24, 2007
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