SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2003
Serono S.A.
--------------------------------------
(Registrant's Name)
15 bis, Chemin des Mines
Case Postale 54
CH-1211 Geneva 20
Switzerland
--------------------------------------
(Address of Principal Executive Offices)
1-15096
--------------------------------------
(Commission File No.)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
----- -----
(Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101 (b)(1).) ______
(Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101 (b)(7).) ______
(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
----- -----
(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______)
Serono logo
Media Release
FOR IMMEDIATE RELEASE
SERONO ANNOUNCES INCREASED OWNERSHIP OF GENSET
GENEVA, Switzerland-April 15, 2003- Serono S.A. (Virt-x: SEO, NYSE: SRA)
announced today that Serono France Holding S.A. now holds 19,371,449 Genset S.A.
shares or 96.60% of its capital and voting rights. This is a result of the
settlement/delivery today of the shares issued in the capital increase with
preferential subscription rights which was launched by Genset S.A. in March
2003.
Consistent with its prior announcements in this respect, and subject to the
satisfactory completion of the necessary steps with the French market
authorities, Serono France Holding S.A. has decided to launch, shortly, a
repurchase offer followed by a mandatory squeeze-out with respect to outstanding
Genset S.A. equity securities.
###
Some of the statements in this press release are forward looking. Such
statements are inherently subject to known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements of
Serono S.A. and affiliates to be materially different from those expected or
anticipated in the forward-looking statements. Forward-looking statements are
based on Serono's current expectations and assumptions, which may be affected by
a number of factors, including those discussed in this press release and more
fully described in Serono's Annual Report on Form 20-F filed with the U.S.
Securities and Exchange Commission on May 21 2002. These factors include any
failure or delay in Serono's ability to develop new products, any failure to
receive anticipated regulatory approvals, any problems in commercializing
current products as a result of competition or other factors, our ability to
obtain reimbursement coverage for our products, and government regulations
limiting our ability to sell our products. Serono has no responsibility to
update the forward-looking statements contained in this press release to reflect
events or circumstances occurring after the date of this press release.
###
-more-
About Serono
Serono is a global biotechnology leader. The Company has six recombinant
products on the worldwide market, Gonal-F(R) (follitropin alfa for injection),
Luveris(R) (lutropin alfa), (Luveris(R) is not approved in the USA.),
Ovidrel(R)/Ovitrelle(R) (choriogonadotropin alfa for injection), Rebif(R)
(interferon beta-1a), Serostim(R) [somatropin (rDNA origin) for injection] and
Saizen(R) [somatropin (rDNA origin) for injection]. In addition to being the
world leader in reproductive health, Serono has strong market positions in
neurology, metabolism and growth. The Company's research programs are focused on
growing these businesses and on establishing new therapeutic areas. Currently,
there are over 30 projects in development.
Serono was awarded the International James D. Watson Helix 2003 Award from the
Biotechnology Industry Organization (BIO) in recognition of the Company's
outstanding leadership and highest standards of scientific and product
achievement.
In 2002, Serono achieved worldwide revenues of US$1.546 billion, and a net
income of US$321 million, making it the third largest biotech company in the
world. The Company operates in 45 countries, and its products are sold in over
100 countries. Bearer shares of Serono S.A., the holding company, are traded on
the virt-x (SEO) and its American Depositary Shares are traded on the New York
Stock Exchange (SRA).
For more information, please contact:
Serono in Geneva, Switzerland:
Media Relations: Investor Relations:
Tel: +41-22-739 36 00 Tel: +41-22-739 36 01
Fax: +41-22-739 30 85 Fax: +41-22-739 30 22
http://www.serono.com Reuters: SEOZ.VX / SRA.N
Bloomberg: SEO VX / SRA US
Serono, Inc., Rockland, MA
Media Relations: Investor Relations:
Tel. +1 781 681 2340 Tel. +1 781 681 2552
Fax: +1 781 681 2935 Fax: +1 781 681 2912
http://www.seronousa.com
-end-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SERONO S.A.
a Swiss corporation
(Registrant)
April 21, 2003 By: /s/ Allan Shaw
------------------------------
Name: Allan Shaw
Title: Chief Financial Officer