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Maelor

  • BY: Andrew Hore |
  • POSTED: 08/11/2007 |

Hospital medicines supplier Maelor moved into profit at the interim stage. 

The purchase of Acorus in May bulked up the business and enabled it to generate enough revenues to cover costs. Turnover jumped 132% to £3.1m in the six months to September 2007. A loss of £75,000 was turned into a profit of £659,000.

Maelor recently signed a deal with Helsinn to acquire the UK rights to nausea and vomiting drug Aloxi. This is set to be launched at the end of March. That’s right at the end of the financial year so there will be initial costs relating to the sale of Aloxi but little in the way of revenues to show for it.

Edison forecasts a full year profit of £1.38m on turnover of £6.5m. longer-term there will be other new product launches.

Chief executive Tim Wright bought 145,000 shares art 13.75p each following the interims. He owns 0.9% of the company and has options over 3.7m shares at 10p each, exerciseable between 8 May 2010 and 8 May 2017.

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