Landsteiner Scientific, S.A. de C.V. successfully completes its Insolvency Proceedings.

Mexico City, July 12^th, 2023 - On July 11^th, 2023, the Second District Court Specialized in Insolvency Matters with Federal Jurisdiction, located in Mexico City, rendered a significant judgment approving the debt restructuring agreement of Landsteiner Scientific. The restructuring agreement, which garnered an impressive 91.70% of votes in favor, encompasses the full repayment of credits owed to non-secured creditors, and an 100% settlement to Bancomext and the Commercial Banking Creditors.

Landsteiner holds a prominent position in the pharmaceutical industry, specializing in the development, manufacturing, and distribution of medicines, biotechnology products, and various healthcare goods within the country. The company faced significant financial challenges and was formally declared insolvent in March 2022. Its insolvency proceedings hold immense significance in Mexico, given the substantial impact it has on the healthcare sector.

"This agreement exemplifies the essence of what insolvency proceedings should be. It will enable Landsteiner to maintain its operations in Mexico, safeguarding the jobs of its workforce, and ensuring the company's continued role as a critical supplier of essential medicines for the country," said Fernando Pérez, partner in the insolvency practice of the law firm Pérez Correa González (PCG), who counseled the pharmaceutical company.

Landsteiner received comprehensive legal counsel from the Perez Correa Gonzalez law firm (PCG) throughout the insolvency proceedings, including the restructuring negotiations and securing funding amounting to $350,000,000.00 to fulfill the terms of the restructuring agreement. The legal team was led by Fernando Pérez Correa and Zulima González, partners of the firm's insolvency practice. They were assited by Mileva González and María Fernanda García Zamora, associates with experience in the same practice area.

With the successful conclusion of the insolvency proceeding and the restructuring process, Landsteiner can now forge ahead with its operations and further expand its capabilities in various pharmaceutical domains. This includes its continued contributions in areas such as insulin, atorvastatin, anesthesia, analgesia, as well as the development and production of anti-infective, cardiological, dermatological, gynecological, gastrointestinal, and other essential medicine.