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SAINT PREX, Switzerland

Ferring Pharmaceuticals has announced a second $3 million donation to the Royal Textile Academy of Bhutan to support its mission to preserve and promote Bhutanese textiles and improve the livelihoods of the weavers who make them.

Today, at the opening of the new Royal Textile Academy facilities in Thimphu, Bhutan, Michel Pettigrew, President of the Ferring Executive Board, said “We are very keen that this major cultural initiative of preserving Bhutan’s traditional skills and heritage continues, and that the commercial momentum which will enhance the quality of life and economic prospects of the weavers be able to grow over the next few years. This is of great importance to all of us at Ferring as we conduct our business under the Philosophy of “People Come First.”

In 2009, Ferring donated $3 million to the Academy to fund the creation of a new cultural centre in the Bhutanese capital of Thimphu. The new grant will be used to support the continued development of the academy, which includes a state-of-the-art museum, a textile weaving school and conservation centre.

On behalf of Her Majesty, Gyalyum Sangay Choden Wangchuck, Mrs. Rinzin O. Dorji, Executive Director of the Academy, thanked Ferring and said “This grant will not only benefit the weavers of Bhutan, through the academy it will contribute to economic development in the region.”

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About Ferring Pharmaceuticals:

Headquartered in Switzerland, Ferring Pharmaceuticals is a research-driven, specialty biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of gastroenterology, reproductive health, urology and endocrinology. Ferring has its own operating subsidiaries in 50 countries and markets its products in more than 90 countries. To learn more about Ferring or its products please visit www.ferring.com.