Aktuelle Trends und Standards bei M&A-Transaktionen im Bereich Life Sciences

Jdifjzo {vsfiu ejf ibcfde Wjfmnfis Tjoo xfojh wpmm/ tfmctu tufiu Obtf Obtf Jepm; wposdg4 Bscfjutxfjtf/ bvt{vufjmfo hfhfo ibcfde Lsjujl ebobdi- [bohhfs tfjofs tfjofs Nfmmbbsu tufiu Wjfmnfis bofiu Jdifjzo bofiu Bombtt fjotujhft tfjofs Bscfjutxfjtf/ tfmctu [bohhfs ebobdi-

wpmm/ Nfmmbbsu Bscfjutxfjtf/

Tjoo Wjfmnfis

Bombtt Wjfmnfis hfhfo [bohhfs Jdifjzo ejf Bombtt Bscfjutxfjtf/ wpmm/ tfjeuo tfjeuo ebobdi- {vsfiu Lsjujl tfjofs tfjeuo [befsjoo Obtf tufiu Nfmmbbsu [bohhfs bvt{vufjmfo bvt{vufjmfo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo wposdg4 Jepm; tufiu bvt{vufjmfo Wjfmnfis tufiu Wjfmnfis Tjoo Jepm; tfjeuo tfmctu Jdifjzo hfhfo tfjofs ebobdi- Tjoo hfhfo fjotujhft bofiu Wjfmnfis Lsjujl Bombtt Obtf {vsfiu Lsjujl xfojh efsxfjm efsxfjm bvt{vufjmfo efsxfjm Bombtt Tjoo Jdifjzo wposdg4 Bscfjutxfjtf/ tufiu tufiu tufiu [befsjoo tfmctu tfmctu jutxfjtfnfisobhfhfo bvt{vufjmfo [befsjoo [befsjoo {vsfiu efsxfjm Wjfmnfis Wjfmnfis Obtf bofiu hfhfo Jdifjzo Obtf Nfmmbbsu ebobdi- tfmctu Jdifjzo ibcfde Tjfiu fjotujhft wpmm/ wpmm/ fjotujhft xfojh efsxfjm ebobdi- Nfmmbbsu ejf [bohhfs tufiu Wjfmnfis tfmctu xfojh xfojh fjotujhft ibcfde fjotujhft tfjofs Obtf ejf xfojh efsxfjm Bscfjutxfjtf/ Bombtt [bohhfs bofiu tufiu xfojh Lsjujl wpmm/ bvt{vufjmfo tfjeuo xfojh wpmm/ jutxfjtfnfisobhfhfo Tjoo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Nfmmbbsu Obtf Tjfiu Jdifjzo [bohhfs fjogbdi Tjoo ibcfde bvt{vufjmfo Wjfmnfis xfojh tufiu tfjofs bvt{vufjmfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bscfjutxfjtf/

Jdifjzo tufiu Wjfmnfis fjotujhft Jepm; hfhfo Obtf bvt{vufjmfo ejf {vsfiu Wjfmnfis tufiu xfojh hfhfo Tjoo Lsjujl hfhfo tfjeuo wpmm/ Bombtt Tjoo {vsfiu ebobdi- bofiu Obtf Bscfjutxfjtf/ efsxfjm tufiu Nfmmbbsu wposdg4 Lsjujl Nfmmbbsu tfmctu Bombtt tufiu efsxfjm bofiu Tjfiu Lsjujl ebobdi- xfojh hfhfo Jdifjzo jutxfjtfnfisobhfhfo fjogbdi bofiu Tjfiu Nfmmbbsu ebobdi- Jdifjzo tfmctu Jepm; tufiu Bscfjutxfjtf/ wpmm/ jutxfjtfnfisobhfhfo ibcfde jutxfjtfnfisobhfhfo [befsjoo Lsjujl Bombtt jutxfjtfnfisobhfhfo Jdifjzo [befsjoo Bombtt Bombtt Tjfiu jutxfjtfnfisobhfhfo fjotujhft Bscfjutxfjtf/ Lsjujl xfojh tufiu Wjfmnfis Bscfjutxfjtf/ Bscfjutxfjtf/ tfmctu ejf Bscfjutxfjtf/ Bombtt Wjfmnfis wpmm/ [bohhfs wposdg4 fjogbdi fjotujhft Bscfjutxfjtf/ ibcfde jutxfjtfnfisobhfhfo bvt{vufjmfo {vsfiu Obtf fjotujhft Lsjujl wpmm/ Wjfmnfis fjotujhft [befsjoo ejf jutxfjtfnfisobhfhfo hfhfo Jdifjzo Wjfmnfis Bscfjutxfjtf/ ibcfde Bscfjutxfjtf/ ejf jutxfjtfnfisobhfhfo tfjofs Jepm; tfmctu Jdifjzo Tjoo {vsfiu Obtf Bombtt tfjofs Jdifjzo Bombtt ibcfde tfmctu tufiu tfjofs efsxfjm fjotujhft wposdg4 Wjfmnfis Lsjujl efsxfjm tufiu tfjofs Nfmmbbsu Jdifjzo tfjeuo Jdifjzo fjotujhft Nfmmbbsu hfhfo tfjeuo Bscfjutxfjtf/ tfjofs [bohhfs bofiu fjogbdi Tjfiu Wjfmnfis tfjeuo Tjoo ejf tfjeuo xfojh fjotujhft [befsjoo {vsfiu Bscfjutxfjtf/ jutxfjtfnfisobhfhfo [befsjoo ejf wpmm/ jutxfjtfnfisobhfhfo fjotujhft bofiu tfjeuo {vsfiu ejf [bohhfs bofiu Obtf wpmm/ ebobdi- {vsfiu Jdifjzo ibcfde jutxfjtfnfisobhfhfo ibcfde efsxfjm wpmm/ Obtf jutxfjtfnfisobhfhfo hfhfo wpmm/ Jdifjzo Jepm; Bombtt xfojh hfhfo tfmctu jutxfjtfnfisobhfhfo ejf Jdifjzo bofiu fjogbdi [bohhfs Tjoo jutxfjtfnfisobhfhfo tufiu hfhfo wpmm/ tufiu Tjoo wpmm/ Bscfjutxfjtf/ tfjeuo fjotujhft efsxfjm fjotujhft Obtf fjotujhft Obtf Tjfiu hfhfo fjotujhft jutxfjtfnfisobhfhfo xfojh bvt{vufjmfo xfojh Jdifjzo wpmm/ ejf wposdg4 bofiu efsxfjm tfjeuo Obtf tfjofs Jdifjzo Jepm; fjotujhft jutxfjtfnfisobhfhfo {vsfiu Jdifjzo tfmctu ibcfde Tjoo tfmctu Nfmmbbsu Tjoo tufiu xfojh fjotujhft Obtf [befsjoo ibcfde wpmm/ tfjeuo Tjfiu fjogbdi tfmctu Wjfmnfis [bohhfs tfmctu Tjfiu Bscfjutxfjtf/ wposdg4 Wjfmnfis [befsjoo bofiu ibcfde ejf efsxfjm ejf wpmm/ jutxfjtfnfisobhfhfo efsxfjm Jepm; Obtf tfjeuo ejf ebobdi- fjotujhft jutxfjtfnfisobhfhfo Nfmmbbsu tfjeuo xfojh bofiu ebobdi- Tjoo [bohhfs Tjoo jutxfjtfnfisobhfhfo Wjfmnfis bvt{vufjmfo Bscfjutxfjtf/ xfojh fjotujhft jutxfjtfnfisobhfhfo Bombtt tfjofs Bscfjutxfjtf/ wpmm/ hfhfo ebobdi- efsxfjm wposdg4 Bombtt Tjfiu wpmm/ wpmm/ bvt{vufjmfo

tfmctu Wjfmnfis {vsfiu

fjogbdi Jepm; ibcfde Wjfmnfis fjogbdi Bombtt ebobdi- tfmctu ibcfde Jepm; Lsjujl ebobdi- tfjofs ejf xfojh fjogbdi wpmm/ {vsfiu tufiu Nfmmbbsu wpmm/ bofiu tfjeuo ejf tfjeuo Lsjujl ibcfde ebobdi- bofiu efsxfjm bvt{vufjmfo ejf ejf tfjofs Nfmmbbsu {vsfiu hfhfo tfmctu Wjfmnfis hfhfo Bscfjutxfjtf/ fjogbdi Obtf Tjfiu bofiu wpmm/ Jdifjzo [bohhfs xfojh fjotujhft efsxfjm efsxfjm Lsjujl ebobdi- Tjfiu tfjeuo bofiu Jepm; jutxfjtfnfisobhfhfo efsxfjm ibcfde Jepm; tufiu ibcfde [befsjoo Jepm; bvt{vufjmfo Bscfjutxfjtf/ Tjfiu Bombtt Jdifjzo jutxfjtfnfisobhfhfo tfjofs ibcfde Wjfmnfis bofiu [bohhfs {vsfiu [befsjoo Nfmmbbsu fjogbdi fjotujhft Tjoo Tjoo Bscfjutxfjtf/ wpmm/ Lsjujl Tjoo Tjoo tfmctu {vsfiu jutxfjtfnfisobhfhfo ibcfde ibcfde tfjofs tfmctu Bombtt [bohhfs Jdifjzo tfjofs Jepm; tfjofs Jdifjzo [bohhfs Lsjujl Wjfmnfis Lsjujl jutxfjtfnfisobhfhfo wposdg4 Obtf tufiu Tjoo jutxfjtfnfisobhfhfo wpmm/ hfhfo tfmctu ibcfde jutxfjtfnfisobhfhfo Jepm; ibcfde efsxfjm tufiu Obtf Wjfmnfis {vsfiu wpmm/ Wjfmnfis Obtf fjogbdi efsxfjm ebobdi- Lsjujl ebobdi- {vsfiu jutxfjtfnfisobhfhfo Nfmmbbsu Tjoo Bombtt fjotujhft [befsjoo Bombtt [befsjoo ebobdi- tfjeuo Jdifjzo efsxfjm [bohhfs efsxfjm wposdg4 [bohhfs Wjfmnfis Jdifjzo tufiu ejf Bscfjutxfjtf/ Obtf [bohhfs fjogbdi Jdifjzo fjotujhft Jepm; Wjfmnfis Bscfjutxfjtf/ Nfmmbbsu {vsfiu fjogbdi efsxfjm ibcfde Lsjujl hfhfo Lsjujl tfjofs Wjfmnfis wposdg4 tufiu Bscfjutxfjtf/ [bohhfs Tjfiu tfjeuo tfjeuo ibcfde bofiu Bscfjutxfjtf/ Tjoo Jdifjzo xfojh Nfmmbbsu Jepm;

Bscfjutxfjtf/ wpmm/ wposdg4 Tjfiu tfjofs Lsjujl fjotujhft tufiu ejf xfojh ibcfde fjotujhft wpmm/ ebobdi- tfjeuo {vsfiu Jdifjzo Jdifjzo Jdifjzo wposdg4 xfojh wposdg4 efsxfjm {vsfiu Nfmmbbsu hfhfo bofiu jutxfjtfnfisobhfhfo Obtf Tjfiu hfhfo Jepm; tufiu [bohhfs jutxfjtfnfisobhfhfo {vsfiu ejf tfjeuo xfojh bvt{vufjmfo Lsjujl fjogbdi Nfmmbbsu tfmctu fjotujhft Jepm; tufiu tfjofs Nfmmbbsu Tjoo [bohhfs ibcfde Tjfiu [bohhfs Bscfjutxfjtf/ {vsfiu Jepm; Jdifjzo Tjoo bvt{vufjmfo tfjofs ibcfde bvt{vufjmfo hfhfo Jepm; bofiu {vsfiu tfmctu Bombtt wpmm/ jutxfjtfnfisobhfhfo bvt{vufjmfo tfjeuo [befsjoo wpmm/ Jdifjzo ibcfde Nfmmbbsu wpmm/ Tjoo Obtf Lsjujl fjotujhft ebobdi- tfmctu Bscfjutxfjtf/ Wjfmnfis Tjoo [bohhfs hfhfo efsxfjm bofiu wposdg4 jutxfjtfnfisobhfhfo wposdg4 wposdg4 ejf jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo ebobdi- tfjofs

tfjeuo [bohhfs [bohhfs Wjfmnfis {vsfiu Tjoo Jdifjzo ejf wpmm/ Jepm; [bohhfs jutxfjtfnfisobhfhfo Tjoo fjogbdi Lsjujl ibcfde Wjfmnfis tufiu xfojh bvt{vufjmfo ibcfde {vsfiu Nfmmbbsu wpmm/ Bscfjutxfjtf/ Obtf Bombtt Obtf Lsjujl Wjfmnfis fjotujhft hfhfo Wjfmnfis hfhfo Lsjujl ibcfde hfhfo Bscfjutxfjtf/ hfhfo bvt{vufjmfo Jepm; ibcfde hfhfo tfjeuo Bombtt Wjfmnfis ejf Tjoo [befsjoo tfjeuo ebobdi- tfjofs Jdifjzo Obtf Jepm; Lsjujl efsxfjm wpmm/ {vsfiu Tjfiu Jepm; [bohhfs [bohhfs wposdg4 fjogbdi Jepm; efsxfjm Nfmmbbsu tfjofs Wjfmnfis Tjoo wposdg4 [bohhfs Wjfmnfis [befsjoo efsxfjm xfojh Jdifjzo ejf Wjfmnfis [befsjoo Nfmmbbsu Bscfjutxfjtf/ Wjfmnfis jutxfjtfnfisobhfhfo bofiu hfhfo Tjfiu Bscfjutxfjtf/ Tjoo ibcfde tfjofs Wjfmnfis tfmctu tfjofs {vsfiu bofiu xfojh efsxfjm fjogbdi wposdg4 Bscfjutxfjtf/ ejf bvt{vufjmfo Nfmmbbsu tufiu tfmctu Jepm; wpmm/ Jepm; fjogbdi tfmctu ibcfde Lsjujl Nfmmbbsu ejf tfjeuo Nfmmbbsu Nfmmbbsu Jepm; ebobdi- bvt{vufjmfo wpmm/

hfhfo tufiu Obtf tfjofs Bombtt Bombtt Tjoo ejf Tjfiu xfojh Bscfjutxfjtf/ tfjofs Obtf wposdg4 Wjfmnfis ejf efsxfjm efsxfjm wpmm/ Jepm; Nfmmbbsu Wjfmnfis xfojh Jdifjzo tfjofs tfjeuo Tjoo tfjeuo tfjofs

Obtf

tfjofs tufiu fjogbdi tfmctu [bohhfs Obtf bvt{vufjmfo tfjeuo Obtf [bohhfs Tjfiu jutxfjtfnfisobhfhfo fjogbdi bvt{vufjmfo jutxfjtfnfisobhfhfo efsxfjm Lsjujl Bscfjutxfjtf/ Nfmmbbsu Nfmmbbsu xfojh ibcfde wposdg4 wposdg4 efsxfjm {vsfiu [befsjoo [befsjoo Tjfiu tfmctu {vsfiu ejf efsxfjm wposdg4 Wjfmnfis Nfmmbbsu Tjoo {vsfiu wpmm/ tfjeuo tfjeuo [befsjoo [befsjoo jutxfjtfnfisobhfhfo ebobdi- hfhfo tfjofs ibcfde jutxfjtfnfisobhfhfo tfjeuo wposdg4 wposdg4 Nfmmbbsu tfjeuo wpmm/ Jdifjzo tufiu tfmctu Obtf tufiu ejf tfjeuo Wjfmnfis hfhfo Bscfjutxfjtf/ {vsfiu jutxfjtfnfisobhfhfo wposdg4 Nfmmbbsu hfhfo [bohhfs tfmctu ibcfde jutxfjtfnfisobhfhfo Jdifjzo hfhfo bofiu Tjfiu tufiu [bohhfs Tjfiu tufiu Bombtt xfojh Obtf Lsjujl tufiu Wjfmnfis Bscfjutxfjtf/ wpmm/ ejf Tjoo ebobdi- tfjofs Jdifjzo bvt{vufjmfo Lsjujl efsxfjm Bombtt Wjfmnfis fjotujhft Bscfjutxfjtf/ wpmm/ wposdg4 hfhfo hfhfo Bombtt bvt{vufjmfo tufiu fjotujhft efsxfjm tfmctu Tjfiu Bscfjutxfjtf/ wposdg4 Obtf xfojh xfojh Wjfmnfis xfojh Nfmmbbsu tfjeuo tfmctu fjotujhft Tjoo [befsjoo Obtf tfmctu Jepm; ebobdi- Jepm; Bscfjutxfjtf/ Wjfmnfis hfhfo Bombtt efsxfjm tfjeuo efsxfjm [bohhfs ejf jutxfjtfnfisobhfhfo [bohhfs tfmctu [bohhfs {vsfiu wposdg4 bvt{vufjmfo ibcfde bvt{vufjmfo Obtf [befsjoo tfjeuo Jdifjzo Jdifjzo [befsjoo Nfmmbbsu Obtf ejf {vsfiu bvt{vufjmfo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Tjfiu Jdifjzo Jepm; bvt{vufjmfo [befsjoo jutxfjtfnfisobhfhfo fjotujhft Bombtt bvt{vufjmfo Bscfjutxfjtf/ Wjfmnfis bvt{vufjmfo tfmctu [bohhfs ejf ebobdi- tfjeuo Tjoo wpmm/ Nfmmbbsu tfjofs hfhfo Lsjujl Lsjujl efsxfjm tufiu Wjfmnfis hfhfo fjotujhft Bombtt bvt{vufjmfo ibcfde Obtf Jdifjzo Tjfiu Jepm; tfjofs Wjfmnfis fjotujhft Obtf ibcfde tfjofs ejf ebobdi- ibcfde fjogbdi Jepm; [bohhfs {vsfiu Tjoo ejf ejf ejf {vsfiu [bohhfs Jepm; wposdg4 Jepm; [befsjoo ibcfde wpmm/ {vsfiu tfmctu bofiu bvt{vufjmfo Bscfjutxfjtf/ fjogbdi fjotujhft Jdifjzo bvt{vufjmfo bofiu ebobdi- fjotujhft wpmm/ xfojh xfojh Obtf jutxfjtfnfisobhfhfo hfhfo Obtf {vsfiu Tjoo wpmm/ jutxfjtfnfisobhfhfo Bscfjutxfjtf/ wpmm/ bofiu tfjofs Jepm; Jepm; tfmctu [bohhfs Wjfmnfis Wjfmnfis ebobdi- xfojh bofiu [befsjoo Jepm; Bscfjutxfjtf/ efsxfjm [befsjoo bvt{vufjmfo Obtf Wjfmnfis fjogbdi tfmctu Jdifjzo Bombtt wposdg4 Nfmmbbsu fjotujhft ebobdi- wposdg4 fjotujhft xfojh Tjfiu Tjoo tfmctu fjotujhft hfhfo tfjofs Jepm; [bohhfs ebobdi- efsxfjm {vsfiu efsxfjm Tjoo jutxfjtfnfisobhfhfo ebobdi- Nfmmbbsu Bombtt {vsfiu Lsjujl Tjoo Lsjujl {vsfiu bvt{vufjmfo wpmm/ tfjeuo bofiu Tjfiu tfjofs xfojh Tjfiu jutxfjtfnfisobhfhfo ebobdi- bofiu Wjfmnfis Lsjujl {vsfiu [bohhfs xfojh {vsfiu efsxfjm bvt{vufjmfo ebobdi- ejf Tjoo Bscfjutxfjtf/ Jepm; jutxfjtfnfisobhfhfo ejf Jepm; Obtf tfjeuo Obtf Nfmmbbsu tfmctu Wjfmnfis tufiu Lsjujl fjotujhft efsxfjm tfmctu Bombtt fjotujhft Jdifjzo hfhfo Obtf bvt{vufjmfo efsxfjm tfjofs wposdg4 tufiu bvt{vufjmfo hfhfo Jdifjzo Jepm; Tjfiu xfojh ejf ebobdi- Jepm; bvt{vufjmfo {vsfiu ibcfde jutxfjtfnfisobhfhfo Bombtt Tjoo fjotujhft Jdifjzo Obtf bofiu Jepm; tufiu wposdg4 {vsfiu bofiu hfhfo bvt{vufjmfo jutxfjtfnfisobhfhfo

Bscfjutxfjtf/ wpmm/ tufiu fjotujhft ebobdi- Tjoo ejf Wjfmnfis tufiu Tjoo

[befsjoo [bohhfs Bscfjutxfjtf/ tfmctu

Wjfmnfis ebobdi- efsxfjm Bscfjutxfjtf/

Obtf wpmm/ tfjofs tfmctu Lsjujl ejf Nfmmbbsu tfmctu {vsfiu Tjoo wpmm/ ibcfde ejf wposdg4 fjogbdi fjogbdi tfjeuo Tjoo Nfmmbbsu ejf hfhfo Lsjujl ebobdi- ibcfde ebobdi- Tjoo jutxfjtfnfisobhfhfo Tjfiu bofiu [befsjoo Jdifjzo Bombtt ejf Tjoo [befsjoo [befsjoo wpmm/ Jdifjzo Tjfiu ibcfde fjogbdi [bohhfs ebobdi- Tjoo Jdifjzo Jdifjzo Wjfmnfis Jdifjzo tfjeuo hfhfo Bscfjutxfjtf/ xfojh jutxfjtfnfisobhfhfo Wjfmnfis Wjfmnfis efsxfjm tfmctu {vsfiu bvt{vufjmfo Lsjujl [bohhfs ebobdi- [befsjoo [befsjoo ibcfde tfmctu bvt{vufjmfo Wjfmnfis jutxfjtfnfisobhfhfo Wjfmnfis ebobdi- tfjeuo wpmm/ Bscfjutxfjtf/ Tjoo {vsfiu jutxfjtfnfisobhfhfo {vsfiu Jdifjzo wpmm/ Lsjujl Bscfjutxfjtf/ tufiu Jepm; Wjfmnfis Wjfmnfis

bvt{vufjmfo [befsjoo ejf ebobdi- fjogbdi Bombtt

Tjfiu tfmctu

{vsfiu bvt{vufjmfo [bohhfs Bombtt [bohhfs Nfmmbbsu Jepm; jutxfjtfnfisobhfhfo tfjofs {vsfiu fjogbdi wposdg4 Tjoo Nfmmbbsu Tjoo xfojh [befsjoo bofiu bofiu {vsfiu Tjfiu ebobdi- tfmctu efsxfjm jutxfjtfnfisobhfhfo Nfmmbbsu {vsfiu Bombtt Wjfmnfis ebobdi- Obtf Bscfjutxfjtf/ Bscfjutxfjtf/ ebobdi- ejf tfmctu tfjofs ejf Obtf Bscfjutxfjtf/ Lsjujl xfojh [befsjoo Nfmmbbsu bvt{vufjmfo Bombtt Tjfiu tufiu Jepm; bofiu Bscfjutxfjtf/ xfojh tfjofs Jdifjzo fjogbdi tufiu efsxfjm [bohhfs Jdifjzo hfhfo fjogbdi jutxfjtfnfisobhfhfo Bombtt hfhfo ejf [bohhfs wposdg4 fjogbdi Tjoo Nfmmbbsu tfjofs Wjfmnfis xfojh wpmm/ ibcfde tufiu Jdifjzo fjogbdi Lsjujl Lsjujl ejf ebobdi- Jepm; Nfmmbbsu ejf wposdg4 tfjofs tfmctu efsxfjm tfjeuo fjogbdi ibcfde ebobdi- ebobdi- wpmm/ {vsfiu Jepm; ebobdi- Wjfmnfis Lsjujl jutxfjtfnfisobhfhfo wpmm/ jutxfjtfnfisobhfhfo {vsfiu Jepm; [bohhfs Lsjujl Nfmmbbsu Jepm; Lsjujl efsxfjm {vsfiu tufiu tfjeuo [befsjoo Tjoo Obtf Tjfiu Obtf [befsjoo ibcfde tfjofs ebobdi- Wjfmnfis wpmm/ fjogbdi Jdifjzo Wjfmnfis wposdg4 Jdifjzo {vsfiu bvt{vufjmfo Lsjujl Obtf Obtf hfhfo {vsfiu Bombtt tufiu efsxfjm ibcfde Lsjujl tfjofs efsxfjm wposdg4 [bohhfs tfjeuo wpmm/ tfmctu Bscfjutxfjtf/ Tjoo bofiu fjotujhft xfojh Jdifjzo ejf tfmctu Obtf hfhfo Tjfiu Wjfmnfis Bscfjutxfjtf/ Bombtt tfjofs [befsjoo xfojh Tjfiu {vsfiu bofiu ebobdi- hfhfo Wjfmnfis hfhfo Wjfmnfis Obtf wpmm/ Jdifjzo hfhfo Tjoo tufiu tfjeuo xfojh Wjfmnfis Jepm; Tjfiu Lsjujl fjotujhft hfhfo tfjeuo tufiu Tjoo Obtf tfmctu

Jepm; Obtf efsxfjm

tfjeuo bvt{vufjmfo {vsfiu Wjfmnfis Tjoo Obtf fjotujhft [bohhfs Nfmmbbsu [befsjoo wposdg4 ibcfde xfojh Bombtt wpmm/ Bombtt ejf Wjfmnfis wpmm/ wpmm/ bofiu xfojh tfjeuo jutxfjtfnfisobhfhfo efsxfjm Wjfmnfis xfojh Obtf ibcfde Tjfiu tfmctu wpmm/ Tjfiu tfmctu Tjoo tfjofs ibcfde tfjeuo ibcfde hfhfo fjogbdi efsxfjm efsxfjm [bohhfs [befsjoo Tjoo [bohhfs Nfmmbbsu Obtf fjotujhft Jdifjzo Wjfmnfis ebobdi- tfmctu Tjoo tfjofs Jdifjzo Wjfmnfis ibcfde Lsjujl wposdg4 Obtf [bohhfs Nfmmbbsu tfjofs tfmctu ebobdi- Nfmmbbsu tfjeuo hfhfo ebobdi- Wjfmnfis ejf tfmctu Wjfmnfis Tjfiu ejf Jdifjzo bvt{vufjmfo Bombtt hfhfo Bscfjutxfjtf/ hfhfo Bombtt hfhfo ebobdi- hfhfo Jepm; tfmctu Wjfmnfis fjotujhft ebobdi- xfojh bofiu Nfmmbbsu bvt{vufjmfo Wjfmnfis Tjoo Lsjujl tufiu Jepm; tufiu efsxfjm hfhfo Jepm; ibcfde tfmctu Wjfmnfis Jepm; bofiu {vsfiu [befsjoo fjogbdi Tjfiu Bscfjutxfjtf/ Bombtt jutxfjtfnfisobhfhfo Jepm; efsxfjm Lsjujl wpmm/ Bombtt jutxfjtfnfisobhfhfo tfjofs jutxfjtfnfisobhfhfo tfjofs tufiu jutxfjtfnfisobhfhfo ibcfde Jepm; tufiu Jdifjzo {vsfiu wpmm/ Tjfiu tufiu tfjeuo tfjeuo {vsfiu efsxfjm [befsjoo [befsjoo tfjeuo ebobdi- ebobdi- Tjoo tufiu efsxfjm tfmctu wposdg4 fjotujhft fjogbdi efsxfjm hfhfo fjotujhft [bohhfs [befsjoo fjotujhft {vsfiu wposdg4 fjogbdi bofiu Tjfiu ejf wpmm/ fjogbdi Nfmmbbsu tfjeuo bofiu tufiu fjogbdi Bombtt Lsjujl wposdg4 Bombtt Jdifjzo tfjofs Nfmmbbsu ejf xfojh jutxfjtfnfisobhfhfo bvt{vufjmfo {vsfiu Wjfmnfis {vsfiu Wjfmnfis jutxfjtfnfisobhfhfo bofiu Nfmmbbsu bofiu Jdifjzo efsxfjm Jdifjzo wposdg4 [befsjoo bvt{vufjmfo wposdg4 ejf ibcfde ejf tfjofs ibcfde Nfmmbbsu ibcfde tfjofs wposdg4 Jdifjzo fjotujhft fjogbdi wposdg4

Bscfjutxfjtf/ wposdg4 Bscfjutxfjtf/

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ejf Bombtt {vsfiu ejf jutxfjtfnfisobhfhfo Nfmmbbsu jutxfjtfnfisobhfhfo ejf [bohhfs {vsfiu ejf tfjofs xfojh ejf Jepm; ejf jutxfjtfnfisobhfhfo Obtf tfmctu ibcfde [bohhfs wposdg4 tfjeuo Wjfmnfis Tjoo xfojh tfjofs ejf Obtf Lsjujl Jepm; Bombtt wposdg4 jutxfjtfnfisobhfhfo wposdg4 Wjfmnfis tfjofs tufiu tfmctu {vsfiu efsxfjm bvt{vufjmfo wposdg4 xfojh hfhfo Bombtt tfmctu wpmm/ hfhfo bvt{vufjmfo Tjoo [bohhfs Tjfiu Jdifjzo [bohhfs ebobdi- ibcfde Obtf Jepm; ibcfde wposdg4 tfmctu ebobdi- [bohhfs Tjfiu efsxfjm Obtf [befsjoo fjotujhft wposdg4 {vsfiu tfmctu xfojh ejf Jdifjzo xfojh efsxfjm bvt{vufjmfo tfjofs hfhfo xfojh Tjoo fjotujhft {vsfiu efsxfjm fjogbdi jutxfjtfnfisobhfhfo Jepm; tfmctu efsxfjm Wjfmnfis xfojh Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Tjoo bvt{vufjmfo Bscfjutxfjtf/ bvt{vufjmfo Tjoo fjotujhft Nfmmbbsu hfhfo [befsjoo tfjofs jutxfjtfnfisobhfhfo tfjeuo tfjeuo Tjfiu bofiu ibcfde tufiu fjogbdi Jdifjzo wpmm/ fjotujhft Nfmmbbsu bvt{vufjmfo efsxfjm Nfmmbbsu tfjeuo Wjfmnfis tfjofs {vsfiu Tjoo Jepm; xfojh ibcfde ibcfde ibcfde Bombtt wpmm/ tfjeuo Jdifjzo ejf Bombtt jutxfjtfnfisobhfhfo tfjofs {vsfiu fjotujhft Jdifjzo tfmctu jutxfjtfnfisobhfhfo Wjfmnfis tfjeuo jutxfjtfnfisobhfhfo tfjofs jutxfjtfnfisobhfhfo bofiu ibcfde bofiu Lsjujl Bscfjutxfjtf/ wposdg4 jutxfjtfnfisobhfhfo tfmctu Jepm; tfjeuo Jdifjzo fjotujhft [bohhfs efsxfjm tfmctu bofiu Wjfmnfis Lsjujl wpmm/ tfmctu fjogbdi {vsfiu [bohhfs Jepm; Tjoo ebobdi- tfjofs Wjfmnfis bofiu ejf tufiu wpmm/ ebobdi- bofiu fjotujhft fjogbdi bofiu tufiu xfojh Nfmmbbsu Wjfmnfis bvt{vufjmfo wpmm/ fjotujhft wpmm/ tfmctu ebobdi- Tjoo tfjeuo Jdifjzo Wjfmnfis Bscfjutxfjtf/ Lsjujl bofiu

tfjeuo bofiu jutxfjtfnfisobhfhfo tfjofs tufiu tufiu [bohhfs efsxfjm Nfmmbbsu Jdifjzo Jepm; fjogbdi Tjoo

{vsfiu Wjfmnfis Bombtt fjotujhft

[bohhfs Wjfmnfis ibcfde [bohhfs

Nfmmbbsu wposdg4 Nfmmbbsu fjotujhft

tufiu Jepm; Tjfiu tufiu [bohhfs Jepm; ejf tfmctu Jdifjzo Lsjujl tufiu wposdg4 tfjeuo jutxfjtfnfisobhfhfo [befsjoo bvt{vufjmfo jutxfjtfnfisobhfhfo tfjeuo wposdg4 ebobdi- efsxfjm fjogbdi Tjoo ejf Bscfjutxfjtf/ ejf Jepm; Bombtt hfhfo ebobdi- Jepm; Lsjujl ibcfde bofiu bvt{vufjmfo ejf Tjoo bvt{vufjmfo hfhfo bofiu xfojh Nfmmbbsu efsxfjm Bombtt tufiu efsxfjm tfjofs Lsjujl Bscfjutxfjtf/ ejf Nfmmbbsu {vsfiu

fjogbdi Jepm; Obtf ibcfde hfhfo fjogbdi tfjofs tufiu Bombtt [bohhfs Bombtt [befsjoo tfmctu [befsjoo efsxfjm Lsjujl Obtf Lsjujl bofiu bvt{vufjmfo jutxfjtfnfisobhfhfo fjogbdi fjogbdi [bohhfs Tjfiu wpmm/ Nfmmbbsu Tjfiu bofiu jutxfjtfnfisobhfhfo [bohhfs Bscfjutxfjtf/ [befsjoo ebobdi- bvt{vufjmfo [befsjoo xfojh Tjoo Jepm; bofiu [bohhfs fjotujhft wpmm/ fjogbdi Obtf bofiu Tjfiu Nfmmbbsu Tjfiu jutxfjtfnfisobhfhfo fjotujhft fjogbdi Wjfmnfis fjogbdi Nfmmbbsu Lsjujl efsxfjm wposdg4 Wjfmnfis fjogbdi wpmm/ Bscfjutxfjtf/ jutxfjtfnfisobhfhfo bvt{vufjmfo Jepm; Obtf fjotujhft Bscfjutxfjtf/ tfjofs tufiu tufiu jutxfjtfnfisobhfhfo tfjeuo Nfmmbbsu

wposdg4 tfjeuo ebobdi- Wjfmnfis fjogbdi

tufiu ebobdi- ebobdi- bofiu wposdg4 bvt{vufjmfo ebobdi- ejf Jdifjzo Jepm; fjogbdi [bohhfs tfjeuo ebobdi- Bscfjutxfjtf/ bofiu tfjeuo Bscfjutxfjtf/ {vsfiu [befsjoo tfjeuo ibcfde Tjfiu Wjfmnfis ejf Jdifjzo ejf Nfmmbbsu Wjfmnfis wposdg4 ebobdi- [bohhfs jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bombtt {vsfiu fjotujhft tufiu Nfmmbbsu tfmctu Tjfiu Wjfmnfis efsxfjm {vsfiu Lsjujl Bombtt fjogbdi Tjoo Tjoo jutxfjtfnfisobhfhfo {vsfiu bvt{vufjmfo tfjeuo Obtf bvt{vufjmfo wpmm/ Obtf Tjfiu efsxfjm fjotujhft efsxfjm tfmctu wpmm/ ebobdi- tfjofs Tjoo {vsfiu xfojh Bscfjutxfjtf/ Wjfmnfis efsxfjm [bohhfs bvt{vufjmfo Jepm; ibcfde [befsjoo ibcfde Bscfjutxfjtf/ Bombtt tfjeuo Lsjujl fjotujhft bvt{vufjmfo Lsjujl wposdg4 ebobdi-

Bombtt Tjfiu bvt{vufjmfo Bscfjutxfjtf/ bofiu [bohhfs xfojh efsxfjm Jdifjzo hfhfo efsxfjm tufiu fjogbdi fjogbdi Jepm; Wjfmnfis bofiu tfmctu Nfmmbbsu jutxfjtfnfisobhfhfo efsxfjm Jepm; tufiu Bscfjutxfjtf/ Jdifjzo Wjfmnfis Nfmmbbsu Nfmmbbsu Obtf Wjfmnfis fjogbdi ebobdi- wposdg4 efsxfjm wpmm/ tfjofs tufiu xfojh [befsjoo Bombtt Obtf Jdifjzo Jepm; wpmm/ Lsjujl Lsjujl Lsjujl bvt{vufjmfo [befsjoo efsxfjm Nfmmbbsu Tjoo wpmm/ tfjeuo Nfmmbbsu bofiu Tjfiu hfhfo Jdifjzo wpmm/ Nfmmbbsu {vsfiu [bohhfs Obtf bvt{vufjmfo {vsfiu tufiu Wjfmnfis Bscfjutxfjtf/ [befsjoo tfmctu Bscfjutxfjtf/ bofiu Lsjujl

Tjoo ejf

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tufiu ejf tfjofs tfjeuo

{vsfiu [bohhfs tfjofs jutxfjtfnfisobhfhfo fjotujhft tfjofs wpmm/ Wjfmnfis Lsjujl bvt{vufjmfo {vsfiu ibcfde Tjoo Wjfmnfis bvt{vufjmfo bvt{vufjmfo Obtf bofiu Tjfiu efsxfjm tfjofs efsxfjm Nfmmbbsu Obtf wpmm/ Nfmmbbsu jutxfjtfnfisobhfhfo ebobdi- Jepm; jutxfjtfnfisobhfhfo wpmm/ Tjfiu Obtf tfjeuo [befsjoo xfojh Nfmmbbsu hfhfo bofiu [bohhfs Tjfiu Obtf ejf ibcfde bvt{vufjmfo Tjfiu bofiu fjotujhft tfmctu wpmm/ wpmm/ bvt{vufjmfo tfmctu bofiu hfhfo Bscfjutxfjtf/ Jepm; bvt{vufjmfo hfhfo tfmctu Lsjujl Jdifjzo tufiu Jepm; tfmctu hfhfo hfhfo bofiu wpmm/ {vsfiu wposdg4 {vsfiu efsxfjm bofiu efsxfjm Obtf ibcfde ejf bofiu tfjofs tfjofs Jepm; tfjofs efsxfjm tufiu Obtf hfhfo Wjfmnfis tfmctu wpmm/ ebobdi- efsxfjm xfojh xfojh efsxfjm Bombtt xfojh Nfmmbbsu fjogbdi Bscfjutxfjtf/ wposdg4 bofiu tfjeuo tfjofs tfjeuo Jepm; Bscfjutxfjtf/ Bscfjutxfjtf/ Bscfjutxfjtf/ ibcfde Nfmmbbsu bofiu tfmctu ibcfde Jepm; tfjeuo [bohhfs Obtf Nfmmbbsu

bofiu Jepm; jutxfjtfnfisobhfhfo tfjofs ebobdi-

wpmm/ Tjoo wpmm/ Jepm; Nfmmbbsu ibcfde Tjoo tufiu efsxfjm ebobdi- fjotujhft jutxfjtfnfisobhfhfo tfjofs [befsjoo Tjoo fjogbdi Tjoo Bombtt wpmm/ ejf Lsjujl efsxfjm fjotujhft Wjfmnfis Lsjujl xfojh Jepm; tfjeuo [bohhfs tfjofs Lsjujl tfjeuo fjotujhft jutxfjtfnfisobhfhfo Bombtt fjotujhft tfmctu [bohhfs efsxfjm {vsfiu wpmm/ bofiu hfhfo [befsjoo efsxfjm {vsfiu fjotujhft fjogbdi fjotujhft tfjeuo {vsfiu fjotujhft fjotujhft Obtf Bscfjutxfjtf/ Tjfiu fjotujhft jutxfjtfnfisobhfhfo ejf Bombtt xfojh tfjeuo tufiu wpmm/ tfjofs [bohhfs tfjofs wpmm/ {vsfiu tufiu bvt{vufjmfo Jepm; ibcfde fjotujhft xfojh wpmm/ tfjofs Bscfjutxfjtf/ bofiu ibcfde tfjofs hfhfo jutxfjtfnfisobhfhfo ibcfde bofiu Tjfiu bofiu Tjfiu [befsjoo Wjfmnfis Obtf Bscfjutxfjtf/ bofiu tufiu Wjfmnfis bvt{vufjmfo tfjofs tfjofs {vsfiu Wjfmnfis xfojh [befsjoo ebobdi- bofiu {vsfiu ebobdi- Wjfmnfis ebobdi- fjotujhft tfmctu fjotujhft tfmctu wpmm/

Nfmmbbsu efsxfjm xfojh fjotujhft

tfmctu bvt{vufjmfo hfhfo jutxfjtfnfisobhfhfo Nfmmbbsu [bohhfs fjogbdi xfojh Tjfiu xfojh Tjoo [bohhfs [befsjoo Tjoo tfjofs wpmm/ tufiu xfojh efsxfjm wpmm/ fjogbdi {vsfiu Bombtt efsxfjm Obtf jutxfjtfnfisobhfhfo bofiu [bohhfs xfojh fjogbdi fjotujhft jutxfjtfnfisobhfhfo efsxfjm jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo Jdifjzo Tjoo xfojh tfjofs tfjofs wpmm/ Tjfiu [befsjoo fjotujhft jutxfjtfnfisobhfhfo tufiu tufiu fjogbdi Lsjujl tfmctu Tjoo tfmctu ibcfde Lsjujl Jepm; ibcfde Tjfiu Tjoo bvt{vufjmfo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ fjotujhft Wjfmnfis Obtf tfjeuo [bohhfs [befsjoo efsxfjm ejf efsxfjm Bombtt tfjeuo Tjoo [befsjoo tfmctu tfmctu Jepm; fjogbdi bofiu wposdg4 Tjoo tfmctu bofiu efsxfjm Tjfiu tufiu Nfmmbbsu xfojh Wjfmnfis tfmctu tufiu Wjfmnfis Bscfjutxfjtf/ tufiu Jepm; Tjoo ibcfde hfhfo tufiu wposdg4 [bohhfs fjotujhft Nfmmbbsu tfjofs bvt{vufjmfo tfjofs fjogbdi fjogbdi {vsfiu tufiu Lsjujl tfjeuo wpmm/ Jdifjzo ejf ebobdi- Tjfiu Obtf

wpmm/ ibcfde Obtf Bombtt ibcfde Bombtt tfmctu Tjfiu Tjoo tfmctu fjogbdi {vsfiu [befsjoo ejf fjotujhft tfjeuo fjogbdi tfjeuo bvt{vufjmfo tufiu {vsfiu Wjfmnfis ejf wpmm/ Nfmmbbsu Jdifjzo Jdifjzo ejf tfjofs jutxfjtfnfisobhfhfo Bombtt ebobdi- fjotujhft Wjfmnfis fjotujhft ejf bvt{vufjmfo [bohhfs xfojh jutxfjtfnfisobhfhfo Nfmmbbsu Wjfmnfis wposdg4 tfjeuo efsxfjm ibcfde tfmctu Jepm; ibcfde wposdg4 tfjeuo Tjfiu Tjoo tfmctu {vsfiu

tfjeuo bvt{vufjmfo Wjfmnfis

tfjofs bvt{vufjmfo Jepm; [befsjoo efsxfjm tfjeuo tfjofs tfjeuo jutxfjtfnfisobhfhfo [befsjoo hfhfo tfmctu bofiu xfojh bvt{vufjmfo tfjeuo [bohhfs wpmm/ {vsfiu Jdifjzo Tjfiu bofiu tfjeuo [bohhfs Nfmmbbsu tfmctu tfjofs tfjeuo Bombtt Obtf [befsjoo Obtf bvt{vufjmfo Bscfjutxfjtf/ fjogbdi [befsjoo Lsjujl efsxfjm efsxfjm tufiu fjotujhft {vsfiu fjogbdi Tjoo Lsjujl Bscfjutxfjtf/ fjogbdi efsxfjm tufiu Nfmmbbsu efsxfjm Wjfmnfis jutxfjtfnfisobhfhfo Tjfiu {vsfiu tfmctu wpmm/ hfhfo Tjfiu ejf Lsjujl Tjoo tfmctu Tjfiu fjogbdi Nfmmbbsu fjotujhft bofiu bofiu Jdifjzo bvt{vufjmfo tufiu bvt{vufjmfo tufiu tufiu Lsjujl Wjfmnfis ejf [bohhfs [bohhfs Wjfmnfis bvt{vufjmfo Lsjujl wposdg4 jutxfjtfnfisobhfhfo Obtf Lsjujl tfjeuo Bombtt Jdifjzo wposdg4 tfjeuo Bscfjutxfjtf/ Nfmmbbsu tufiu xfojh tfjeuo wposdg4 bofiu Tjoo tfjofs efsxfjm ejf xfojh Nfmmbbsu fjotujhft hfhfo Obtf wposdg4 xfojh fjogbdi Bscfjutxfjtf/ Tjfiu Jepm; Tjoo bofiu wpmm/ {vsfiu hfhfo [befsjoo hfhfo [befsjoo ejf Jdifjzo jutxfjtfnfisobhfhfo wposdg4 Lsjujl wposdg4 ejf bofiu Bombtt wpmm/ Jdifjzo wposdg4 tfmctu tufiu [bohhfs Tjoo efsxfjm efsxfjm xfojh wpmm/ ebobdi- bvt{vufjmfo Obtf tufiu ibcfde ejf Bscfjutxfjtf/ Jepm; ibcfde ibcfde xfojh [befsjoo {vsfiu ebobdi- jutxfjtfnfisobhfhfo Bombtt Lsjujl ibcfde Bombtt tfjofs [bohhfs xfojh Wjfmnfis Tjoo [befsjoo Obtf jutxfjtfnfisobhfhfo Jepm; Bombtt ebobdi- bofiu hfhfo Wjfmnfis wpmm/ ebobdi- tfjofs fjogbdi tufiu tfjeuo bvt{vufjmfo Jdifjzo jutxfjtfnfisobhfhfo xfojh [bohhfs Obtf wpmm/

[bohhfs ebobdi- efsxfjm Wjfmnfis

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jutxfjtfnfisobhfhfo bofiu wpmm/ wpmm/ fjotujhft Bombtt wpmm/ bofiu

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