News blog
Tristel
- BY: Andrew Hore |
- POSTED: 30/12/2010 |
Tristel has terminated its agreement with US-based cleaning products giant Clorox.
The infection and contamination control products supplier had licenced Clorox rights to its products for disinfecting hospital surfaces. Tristel says that it has learnt about US regulatory process through the agreement and it will look at other opportunities in North America.
Clorox licenced Tristel’s chemistry for the US back in September 2009. At that time, it was thought that it would take a couple of years to gain regulatory approvals in the US but Clorox, which is known for its bleach-based products, was going to bear that cost. Tristel’s management said that Clorox spent a significant amount of time researching Tristel’s products and failed to replicate them.
Daniel Stewart had reckoned that sales could start in 2012. Tristel says that it did not assume any royalty income until 2015-16. Either way, this does not hit the short-term forecasts for the business.
The Clorox deal was one of the things that was expected to drive revenue long-term growth for Tristel but by no means the main one.
At 62p a share, down 2p on the day, Tristel is valued at £24.8m.
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