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Medical House

• BY: Andrew Hore |
• POSTED: 18/07/2008 |
• COMMENTS: Add yours

Medical House has signed a non-exclusive development and supply agreement with Dr Reddy’s Laboratories.

Medical House will customise its disposable autoinjector device for Dr Reddy’s. These costs will be paid by Dr Reddy’s. The agreement lasts for five years and covers the US, Canada and EU although Dr Reddy’s has an option to extend the agreement.

Medical House believes that it could generate revenues of £5m over the life of the agreement. 

The potential bidder for Medical House has ended the talks first announced on 21 April. That has hit the share price which has slumped 4.25p to 17.5p, which values Medical house at £12.3m. 

Medical House started out as a company trying to ride the fashion for internet companies back in 2000. Those activities have gone but it has built up a safety syringes development business to go with its surgical instruments manufacturing operation, Eurocut.  Medical House joined Aim on 4 September 2000 via an offer for subscription at 50p a share that raised £1.13m. 

© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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