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York Pharma

  • BY: Andrew Hore |
  • POSTED: 02/02/2009 |

York Pharma’s new chief executive is cutting its operating costs.

The skincare treatment company is closing its office in Japan and reducing its presence in Germany. The development portfolio of treatments will be slimmed down with some treatments being sold off.

This will enable York to focus its cash on its late stage dermatology treatments.

The strategic review is continuing. York is considering how it can obtain additional cash.

York Pharma was forced to unwind the acquisition of the Flammazine and Flammacerium brands from Solvay Pharmaceuticals because of funding problems.

New chief executive Richard Anderson says that he wants to turn York into a cash generative business.

Shares in York recovered 0.375p to 5.625p each, which values the company at £3.45m. 

The full year results to September 2008 should be announced by 20 March. 

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