Adamed seeks investor for new drug research project

Domestic drugs producer Adamed is looking for a major international player to co-finance the most expensive research phase, clinical testing, of an innovative new product the company wants to develop. The estimated cost of the project is $200 million. The investor would receive production and sales rights for the new drug and Adamed would gain access to Eastern European markets. "The research was initiated two years ago and we have invested over zl. 40 million to date, but we are unable to continue financing," said Adamed's managing director, Slawomir Mirek. Adamed's turnover in 2002 was zl. 120 million and the firm hopes to increase its sales by 50% in 2003. (Puls Biznesu, pp. 1, 3) M.M.