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 March, 2003
Serono S.A.
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(Registrant's Name)
15 bis, Chemin des Mines
Case Postale 54
CH-1211 Geneva 20
Switzerland
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(Address of Principal Executive Offices)
1-15096
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(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
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(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
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______)
SERONO
MEDIA RELEASE
FOR IMMEDIATE RELEASE
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SERONO ANNOUNCES NEW SENIOR MANAGEMENT APPOINTMENTS
GENEVA, SWITZERLAND, AND ROCKLAND, MA, USA -MARCH 25, 2003 -
SERONO S.A. (VIRT-X: SEO AND NYSE: SRA).
As part of its succession planning, Serono today announced senior management
appointments following the retirement of two executives after many years of
service with the company.
Serono announced the appointment of Fereydoun Firouz as President of its US
operations, Serono, Inc. Mr. Firouz is currently Executive Vice President,
Reproductive Health, Serono, Inc. He replaces Jean-Pierre Verhassel who is
retiring from operational responsibilities after more than fifteen years of
service to Serono in various senior management positions. However, the company
will continue to benefit from Mr. Verhassel's experience in his non-executive
role as Chairman of Serono, Inc.
In addition, Serono announced the appointment of Dr. Timothy Wells as Senior
Executive Vice President of Research. Dr. Wells will be responsible for the
company's global discovery and early development operations. Dr. Wells has been
with the company as Head of Discovery since 1998 and he replaces Dr. Silvano
Fumero who is retiring after a career with Serono that spanned over 30 years.
"These appointments are part of our succession planning at Serono, and will
ensure the continued development of the company," said Ernesto Bertarelli, Chief
Executive Officer. "Both Fereydoun and Tim have a strong track record of
leadership and will continue to make significant contributions to the success of
Serono," he added.
Serono also announced that Dr. Stevo Knezevic is leaving to join another
company. His responsibilities for clinical development will be assumed by Dr.
Franck Latrille in a broader role as Senior Executive Vice President, Global
Product Development.
BACKGROUND ON NEW APPOINTEES
Most recently, Fereydoun Firouz has held the role of Executive Vice President,
Reproductive Health, of Serono, Inc. Prior to his appointment to that position
in 2001, Mr. Firouz worked in positions of increasing responsibility in Serono's
sales and
marketing operations since 1991 and in Serono's government affairs office in
Washington, D.C. from 1989 to 1991. Mr. Firouz holds a BS degree from George
Washington University and participated in the executive program in general
management at Babson College.
Since 1998 Tim Wells has served as Serono's Vice President Research, Head of
Discovery. From 1990 until he joined Serono in 1998, Dr. Wells held positions of
increasing responsibility in research at Glaxo Wellcome. Dr. Wells holds a PhD
degree in the chemistry of enzyme action and protein engineering from Imperial
College, London, and a bachelor's degree in natural sciences from the University
of Cambridge.
Franck Latrille has been Serono's Senior Executive Vice President, Manufacturing
Operations and Process Development since 2003 and has held a variety of senior
management positions since joining Serono in 1994. He also has substantial
previous biotechnology experience. Dr. Latrille holds a PhD degree in animal
physiology and biochemistry and an MS degree from the University of Bordeaux.
###
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.
###
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
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-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)
March 26, 2003 By: /s/ Allan Shaw
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Name: Allan Shaw
Title: Chief Financial Officer