Bubendorf, April 23, 2002

Bachem results 2001: Prepared for the future

- Clear increase of sales, EBIT and EBITDA
- Successful integration of Sochinaz SA, acquired January 1, 2001
- Continuing growth in the USA
- New formation of top management: Rolf Nyfeler succeeds Peter Grogg as CEO

Bachem AG (SWX: BANB) today announced business results for 2001. Sales were up 26.9% in Swiss Francs and 27.3% in local currencies, achieving a new record of CHF 141.4 million. EBITDA (earnings before interest, tax, depreciation and amortization) grew by 13.1% from CHF 55.2 million to CHF 62.4 million, representing 44.2% of sales. EBIT (earnings before interest and tax) increased by 7.4% from CHF 45.7 million to CHF 49.1 million.

The growth in sales is attributed particularly to the acquisition of Sochinaz as of January 1, 2001, and to the positive development of business in the United States. In its first year, Sochinaz contributed to operating income, although the overall EBIT margin decreased slightly given lower margins typical of its business. Net income declined as expected in view of a once-off favorable tax effect in 2000 and the unsatisfactory financial results in 2001, with an overall result of CHF 37.6 million as compared to 47.8 million in the previous reporting period. Nevertheless, the Board proposes an unchanged dividend payment of CHF 0.75 per share to the Annual General Meeting.

Following the acquisition of Sochinaz, Bachem sales shifted to 72% pharmaceutical compounds and 28% research ingredients, compared to 65% and 35%, respectively, in the previous year. Sochinaz complements the established Bachem peptide-based active ingredients portfolio by adding a range of attractive generics, as well as the potential for additional growth with geographic market expansion. The research ingredients business was successfully consolidated by integrating the products from Peninsula Laboratories, acquired end of 1999, into the list of Bachem products. Considerable demand for custom synthesis resulted in new projects that, if successful, could result in requests for substantial amounts of compound.

"Even if we cannot be satisfied with all results, 2001 was a successful and pivotal year for the future direction of Bachem," commented Peter Grogg, Chairman of the Board and, up to now, CEO. "It is now time for me to focus on my responsibilities as Chairman and to assign the function of CEO to Rolf Nyfeler."

"The successful expansion of our business activities - through the acquisition of Sochinaz, agreements such as the one with Theratechnologies or the joint venture with Berna Biotech, the number of development projects with pharma and biotech partners, as well as the development of our US business - broaden the basis for the future success of our company," added Rolf Nyfeler, Chairman of the Corporate Executive Committee and newly appointed CEO. "We are optimally prepared to consistently take advantage of the broad opportunities resulting from market developments and scientific progress."

In order to pursue the future development objectives of the company, the responsibilities at the helm of Bachem AG are newly allocated. Founder Peter Grogg (60) passes his responsibilities as CEO on to Rolf Nyfeler and will concentrate on his role as Chairman of the Board. Rolf Nyfeler (52), currently COO of the Bachem Group and Chairman of the Corporate Executive Committee, joined Bachem in 1982 and for 10 years headed research and development before he assumed operational responsibility for Bachem's headquarters organization. After completing a Ph.D. in chemistry at the University of Basel, he began his career with the Max Planck Institute in Munich, Germany, followed by the University of California, San Diego, USA. Rolf Nyfeler immediately assumes his new responsibility as CEO.

Key figures:	2001	2000	Change
Sales (in CHF m)	141.4	111.4	+26.9%
EBITDA (in CHF m)	62.4	55.2	+13.1%
EBIT (in CHF m)	49.1	45.7	+7.4%
Net income (in CHF m)	37.6	47.8	-21.4%
Cash flow from operating activities (in CHF m)	31.4	31.7	-0.9%
EBITDA in % of sales	44.2%	49.5%
EBIT in % sales	34.7%	41.0%
ROE	12.4%	17.2%
Number of employees (in full time equivalents)	468	376	+24.5%
Sales per employee (in CHF)	302'032	296'335	+1.9%

Bachem AG is an independent, technology-based company specializing in the development of manufacturing processes for the production of innovative biochemical and pharmaceutical compounds. With headquarters in Switzerland and affiliates in Europe and the US, the Bachem Group works on a global scale and holds a leading position in its field.

For questions please contact:
Reto Conrad, CFO
Tel.: +41 61 935 23 33
Fax: +41 61 935 23 24