Mon 2nd Sep 2013 Interim Management Statement

 

Consort Medical today issues its Interim Management Statement for the period from 1 May 2013 to date.

Consort is trading in line with its expectations and the Board remains confident of its outlook for the full year.

Bespak has continued to make good progress with its broad development portfolio, with a number of new product launches scheduled over the next twelve months. As announced on 22 July 2013, we are pleased to have added the novel patented nasal device NAS030 to the portfolio. Furthermore, our Innovation Team continues to generate interest in its newly developed drug delivery solutions from potential commercial partners.

We are pleased to announce that Bespak has successfully secured a license from the MHRA for commercial drug handling for the Nicoventures programme. This is a significant achievement, underlining Bespak’s substantial regulatory competence and expertise, and further demonstrates our success in delivery of our strategy to expand Bespak’s service offering up the value chain.

Construction contracts have now been awarded for the new manufacturing facility in King’s Lynn, and for the refit of the Milton Keynes facility which will provide expanded capacity to produce the contracted volumes under our commercial supply agreement with Nicoventures.

Consort’s consolidated financial position remains strong, with net cash at 31 July 2013 of £35.2 million.