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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): SEPTEMBER 11, 1997
FUISZ TECHNOLOGIES LTD.
(Exact name of registrant as specified in its charter)
DELAWARE 0-27082 52-1579474
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
3810 CONCORDE PARKWAY, SUITE 100
CHANTILLY, VIRGINIA 20151
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (703) 803-3260
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ITEM 5. OTHER EVENTS.
On September 11, 1997, Fuisz Technologies Ltd. (the "Company")
announced that its Fuisz International Holdings Limited (FIHL)
subsidiary had signed a definitive purchase agreement to acquire
privately-held Istoria Farmaceutici (Istoria), a national network
marketer of pharmaceutical products based in Padova, Italy.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) Exhibit.
99.1 Press Release dated September 11, 1997.
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SIGNATURE
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 hereunto duly authorized.
FUISZ TECHNOLOGIES LTD.
Dated: September 18, 1997 By: /s/ Patrick D. Scrivens
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Patrick D. Scrivens
Executive Vice President and
Chief Financial Officer
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EXHIBIT LIST
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Exhibit No. Description Sequentially
Numbered Page
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99.1 Press Release dated September 11, 1997
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EXHIBIT 99.1
PRESS RELEASE, DATED SEPTEMBER 11, 1997
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AT THE COMPANY FINANCIAL RELATIONS BOARD
Kenneth W. McVey Doug DeLieto Brian Gill
President & Chief Executive Officer (general info.) (analyst info.)
USA: (703) 803-3260 (212) 661-8030
Ireland: 01.6760984
FOR IMMEDIATE RELEASE
SEPTEMBER 11, 1997
FUISZ TECHNOLOGIES TO ACQUIRE PHARMACEUTICAL PRODUCTS
MARKETER ISTORIA FARMACEUTICI OF ITALY
STRATEGIC ACQUISITION BOLSTERS COMPANY'S OVERSEAS PRESENCE,
INCREASES DISTRIBUTION CHANNELS FOR WIDENING LINE OF PHARMACEUTICAL PRODUCTS
CHANTILLY, VA., SEPTEMBER 11, 1997 -- Fuisz Technologies, Ltd. (Nasdaq NMS:
FUSE) today announced that its Fuisz International Holdings Limited (FIHL)
subsidiary has signed a definitive purchase agreement to acquire privately-held
Istoria Farmaceutici (Istoria), a national network marketer of pharmaceutical
products based in Padova, Italy. Terms were not disclosed.
In announcing the transaction, which is subject to approval by Italian
authorities, Fuisz Technologies Ltd. Chief Executive Officer Kenneth W. McVey
said, "Istoria provides another excellent addition towards fulfilling our
strategy of assembling distribution channels in major markets for our widening
line of pharmaceutical products. Together with our previously announced
acquisitions of pharmaceutical marketers in Ireland, France and the United
States, Istoria brings us a significant presence in the world's number five
pharmaceutical market and will add to our international ability to quickly and
efficiently distribute our products to consumers. Istoria markets its products
primarily to gynecologists and pediatricians who operate in the specialty areas
where Fuisz will concentrate its initial European marketing activities, thus
making this acquisition a particularly good fit."
Dr. Danilo Casadei Massari, who will continue as President and Chief Executive
Officer of Istoria, commented on the new relationship, "I am very pleased to
introduce to Italian consumers the new and exciting products which are being
developed by Fuisz Technologies using its revolutionary drug delivery
technologies. This relationship will fuel the growth of Istoria."
Istoria, which was founded by Dr. Massari, currently employs some 40 full and
part-time employees and sales people who market twelve (12) products, including
antihistamines, analgesics, and antibiotics.
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Fuisz Technologies Ltd. is engaged in the development and commercialization of
a wide range of drug delivery, nutraceutical, and food ingredient products
utilizing its proprietary CEFORM(TM), Shearform(TM), Flash Dose(TM) and other
delivery technologies. FIHL, based in Dublin, Ireland, manufactures and
commercializes the company's products outside of North America.
This news release may contain certain forward-looking statements that involve
risks and uncertainties. The actual future results of Fuisz Technologies Ltd.
and FIHL may differ materially due to a number of factors including, but not
limited to, dependence on collaborative partners, risk of manufacturing
scale-up, delays of introductions of new products or enhancements, size and
timing of individual orders, rapid technological changes, market acceptance of
new products, and competition. These and other factors are more fully
discussed in the company's Form 10-K in the section captioned "Management
Discussion and Analysis of Financial Condition and Results of Operations."
TO RECEIVE ADDITIONAL INFORMATION ON FUISZ TECHNOLOGIES LTD.,
VIA FAX AT NO CHARGE, DIAL 1-800-PRO-INFO AND ENTER TICKER SYMBOL FUSE.
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