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Provalis

Provalis develops and sells medical diagnostic products for chronic disease management in world markets, as well as selling and marketing its own and third party branded prescription medicines in the UK.

Provalis; Growth to resume with launch of G5 in autumn 2004, but breakeven deferred

  • Pharmaceuticals performed as expected, but Medical Diagnostics disappointed. G5 will roll out in the second half of 04 with other news flow in prospect.
  • Medical Diagnostics was dominated by de-stocking in the US supply chain after the spike in deliveries last year, leading to falls in the sales of Glycosal. Pharmaceuticals delivered sales as expected, though margins were cut by the costs of product and territorial launches, e.g. in Ireland.
  • Medical Diagnostics should see the launch of the G5 product later in the year, while in Pharmaceuticals, the Falk range is expected to be replaced by newly licensed chronic obstructive pulmonary disease drugs.
  • Cash stood at £3.2m at year end, with a further £2.0m received in January from the Falk distribution deal. Other receipts together the newly negotiated £3.0m bank line should see the company through to break-even, possibly in 2005.

Publication Date:
March 1 2004

Provalis October 2003

  • Repositioning taking Provalis out of risk category.
  • Significantly progress towards profitability and financial self-sufficiency.
  • Next generation Glycosal product launch expected in 2004.
  • Net cash £6.6m.

Publication Date:
October 1 2003

Provalis April 2003

  • Glycosal breakthrough in the USA, with first half sales almost twice previous full year.
  • Now at break even pre R&D. 
  • Diclomax acquisition doubles size of healthcare division.
  • Net cash £7.3m: progress toward financial self sufficiency.

Publication Date:
April 1 2003

Provalis; £5m cash boost

  • Provalis’ deal with Dr Falk Pharma GmbH has boosted its cash position significantly and the company has taken a further step toward financial self sufficiency.

 

Publication Date:
February 4 2003

Provalis moves closer to profit

  • Provalis passed a number of important milestones over the last twelve months and has laid the foundation from which the business can move forward into profit in the near future.
  • It has achieved a breakthrough in the major US market with its flagship diagnostic product Glycosal® (long term management of diabetes), which has had an immediate impact on sales, and doubled the size of its healthcare division.

Publication Date:
October 29 2002