Sanochemia: Consolidation of AlcaSynn Holding in 2006/2007 Financial Year

Announcement pursuant to Section 15 of the German Securities Trading Act and Section 48d, Para. 1 of the Stock Exchange Act - Sanochemia Pharmazeutika AG

(Vienna, 12. 11. 2007) Vienna-based Sanochemia Pharmazeutika AG, (listed in the Prime Segment of the Frankfurt Stock Exchange, ISIN AT0000776307), expects to report an unforeseen burden on results for the 2006/2007 financial year to 30 September 2007 due to the consolidation of its stake in AlcaSynn Pharmaceuticals GmbH.

It was originally intended that the 60% interest in AlcaSynn Pharmaceuticals GmbH (Innsbruck) acquired in June 2006 would be placed in a fund. Due to the fact that this option has been delayed and that it may ultimately not be possible to integrate the shares into a fund at all, Sanochemia is required to fully consolidate these shares in the 2006/2007 financial period.

Although the clearly positive operating result for the period will be negatively influenced by the impact of the extraordinary amortisation of shares in AlcaSynn, this will not have any influence on the Company’s cash position at the end of the 2006/2007 financial period.

It is not yet possible to assess the final amount to be impaired as the associated impairment test has yet to be completed. It is therefore not possible at this stage to give any accurate forecast as to the results for the period to 30 September.

Outlook - AlcaSynn Pharmaceuticals GmbH

Sanochemia plans to exploit the potential of the morphinan substance library held by AlcaSynn by making these molecules available to external partners in the form of partnership or licensing deals. This approach should ensure that existing potential is tapped more rapidly and efficiently, while also allowing the associated risks to be spread more evenly. Sanochemia will continue to concentrate its efforts on its core segments and development projects closer to the market.

Sanochemia is scheduled to publish preliminary results for the 2006/2007 financial year in mid-December.

For further information please contact:
Margarita Hoch Investor Relations
phone: +43 / 1 / 3191456 / 335 fax: +43 / 1 / 3191456/ 344

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