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Pharmaceutical company, Dannex Ayrton and Starwin, has donated some medical supplies to the Tesano division of the Ghana Police Service.

The presentation forms part of what the company says is its contribution to society. The support is also aimed at supporting the operations of the Ghana Police Service. Presenting the items to the police service, Chief Corporate Affairs Officer for Dannex Ayrton and Starwin, Kwesi Yirenkyi said, “We all know there’s been an upsurge in crime in our communities of late so the police need all the resources it can muster to fight crime”

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Dannex Limited is the majority shareholder in both Starwin Products (71.33%) and Ayrton Drug (53.47%) Dannex intends to merge the three companies into one formidable company, both operationally and legally. The purpose of the merger is to create synergies and scale to be able to compete effectively and profitably in Ghana and West Africa. The best of the three companies would be put together to produce high quality and value for money medicines that would meet customer and consumer needs.
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The acquisition which was made through a rights issue makes Dannex the biggest shareholder of the company with 71.33 percent shares translating to 185,317,279 shares. 333,359,264 ordinary shares of no par value at GHS 0.03 per share in a ratio of 4.49 new shares for every one existing share held by qualifying shareholders of Starwin were offered. The offer raised a total of GHS 5,567,099.16 representing 55.67% of the intended GH 10,000,777.92. Prior to becoming the majority shareholder of Starwin, Dannex owned 2.69 percent shares in the company. In its latest acquisition Dannex acquired 68.64 percent stake in the company at a cost of 5,566,802.16 million cedis. The acquisition of Starwin by Dannex is expected to make Dannex a formidable force to grapple with in the pharmaceutical industry both in Ghana and the West Africa sub region. Dannex Limited is a wholly owned private limited liability company which was set up in May 1964 and is recognized as an industrial leader in the manufacture of high quality pharmaceutical drugs and chemicals in Ghana, while Starwin Products Limited is one of the leading pharmaceutical companies in Ghana and the first of only two organizations in the industry to be listed on the Ghana Stock Exchange.
 MD of Dannex, Yaw Opare-Asamoah who confirmed the acquisition to Citi Business News said the move will make Dannex the leader in the pharmaceutical sector. “We will have a bigger balance sheet which will stand the test of time because of the uncertainties in the market place and this is exactly why we are looking at this together with Starwin which had a strong brand, good people and a strong board. We believe if we can have the two companies together we can have a stronger presence in West Africa and also we will be known as a leader and push the Ghana pharmaceutical industry in the sub region.’ He said. The acquisition makes Mirfield Properties the second largest shareholder of the company with 7.80 percent shares, Damsel and Anthony Oteng – Gyasi third largest shareholder with 1.15 percent. While Starwin comes in at number four with 0.99 percent shares. E.H Boohene Foundation and International Central Gospel Church come in as fifth and sixth largest shareholder respectively with 0.95 and 0.80 percent shares
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Dannex Limited has presented 25,000 pieces of ORS drugs worth $25,000 to the Liberian Embassy in Ghana to aid in fight against the deadly Ebola Virus.
The move forms part of efforts to whip-up corporate support in West Africa for Ebola-stricken countries.
Inspired by how ORS is reported to have saved an Ebola patient in Nigeria, the company is hopeful that some 500 patients in Liberia can benefit from the drugs.
Dr. Ada Igonoh of the First Consultants Hospital in Nigeria is reported to have been cured from Ebola after she kept drinking ORS fluid.
The signs of Ebola include fever, severe headache, muscle pain, vomiting, diarrhea, stomach pain, or unexplained bleeding or bruising.
Dannex’s ORS is specially formulated to help replace fluid lost from the body through dehydration due to vomiting and diarrhea. According to the board Chairman of Dannex Limited, Nick Amartefio, “since ORS is so important for the recovery of people affected by the Ebola Virus and as the biggest manufacturer of ORS in Ghana, we needed to help.”
Mr. Amartefio said Ghana must prioritize the help it offers Liberia considering how quick the virus has been spreading across the sub-region.
The Managing Director of Dannex Limited, Yaw Opare Asamoah indicated that similar donations will be made to the Embassies of Sierra Leone and Guinea in Ghana.
The Charge D’Affairs of the Embassy of the Republic of Liberia in Ghana, Musu J. Rhule expressed her appreciation to the company and called for more support to help fight the disease.
Liberia, Sierra Leone and Guinea have been struggling to contain the disease since it broke out in March this year and so far, over 4,000 lives have been lost to the disease.
 
By: Rabiu Alhassan/citifmonline.com/Ghana
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