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IS Pharma

  • BY: Andrew Hore |
  • POSTED: 22/06/2009 |

IS Pharma has launched Variquel in the UK and Ireland earlier than expected.

Variquel is the trade name for Haemopressin, which is used for the treatment of uncontrolled bleeding from oesophageal varices. A further 12 countries are being targeted.

The sales should start almost immediately and the launch triggers a £2m payment to SEP. Net cash was £2.6m at the end of March 2009 and IS has spare debt facilities of £4.5m.

Shares in IS Pharma rose 2.5p to 82.5p each, which values the company at £25.4m. 

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