Pinnacle completes acquisition of Bioplus

Pinnacle has acquired all of the issued and outstanding shares of Bioplus for 5,000,000 new treasury shares of Pinnacle.

Bioplus is a pharmaceutical development company incorporated to develop, manufacture and market a wide range of generic prescription drug products for the global health care market. Pinnacle says these products will be particularly directed towards the hospital and retail market, especially retail pharmacies. Pinnacle said it is also considering the production of over-the-counter products.

New relationships with major drug companies are being sought in the hope of bringing greater opportunities for Bioplus to concentrate on its objective to be a fully integrated pharmaceutical company. Pinnacle said alliances with other companies will bring additional strengths to Bioplus, and will create possibilities for increased market share in a number of areas.