AGM Statement

RNS Number:9196N
Protherics PLC
24 July 2003


                                                                    24 July 2003

                                 PROTHERICS PLC

                                 AGM STATEMENT


At the Annual General Meeting today, Stuart Wallis, Chairman, made the following
statement to shareholders.

"I am pleased to report that Protherics continues to make significant progress
towards our primary objective, which is to build a profitable business. In the
year that ended on 31st March we traded profitably in the second half. Turnover
was up 64% to #11.3 million and we reduced the operating loss from #2.2 million
a year ago, to #0.6 million.

Sales of CroFabTM, our treatment for rattlesnake bites, were up 70% to #8.5
million and, in its first full year on the market, we sold #1.2 million of
DigiFabTM, our treatment for the toxic effects of the heart drug Digoxin.
Demand for both these products remains strong. We continue to make good progress
in reducing the cost of goods at our facility in Wales and I am pleased that the
Welsh Assembly Government has agreed to support the expansion of that facility
through the award of grant for up to #800,000.

Our R&D programmes progressed well and we are in active discussions with a
number of larger Pharmaceutical companies to licence the late stage development
of our treatment for sepsis and our vaccine for high blood pressure.

We have had a good start to the current financial year. Three batches of 
CroFabTM which were slightly delayed and missed the cut-off for the financial
year-end, have all been delivered into the market in time for the rattlesnake
biting season. Orders for both CroFabTM and DigiFabTM continue to be
strong.

On 2nd May we announced the acquisition of Enact Pharma plc which brings with it
both a high margin late stage product, Voraxaze, with sales anticipated to start
this year, and an earlier stage product, NQO2, with the potential to be
out-licensed within two years. I am delighted to welcome Tony Atkinson, who will
serve as our Chief Scientific Officer, and Michael Peagram, who will serve as a
Non-Executive Director, to the Board of Protherics. Tony was the Chief Executive
of Enact and Michael was its Chairman. Their knowledge and experience will be a
great asset to us. Tony Atkinson's initial charge will be to integrate and
consolidate the two companies' R & D Programmes.

Looking to the future, Protherics now has a solid foundation of revenue
generating products and a healthy pipeline of late and earlier stage
developments that should enable us to rapidly increase our revenues and become
increasingly profitable."




For further information contact:

Protherics PLC                        [phone]
Andrew Heath, Chief Executive         [phone] (mobile)

The Maitland Consultancy              [phone]
Brian Hudspith

Protherics PLC

Protherics PLC was formed in September 1999 from the merger of Proteus
International plc and Therapeutic Antibodies Inc. Protherics is an international
biopharmaceutical company, engaged in the development, production and
commercialisation of immunopharmaceuticals and cancer therapies.

The Company's ordinary shares are listed on the Official List of the UK Listing
Authority and are traded on the London Stock Exchange. (PTI.L)

An electronic version of this will be available at: www.protherics.com

This statement, and oral statements made from time to time by Company
representatives concerning the subject matter hereof, may contain so-called
"forward looking statements". These statements can be identified by introductory
words such as "expects", "plans", "will", "estimates", "forecasts", "projects",
words of similar meaning, and by the fact that they do not relate strictly to
historical or current facts. Forward-looking statements frequently are
discussing the Company's growth strategy, operating and financial goals, plans
relating to regulatory submissions and approvals and product development
programs. Many factors may cause actual results to differ from the Company's
forward-looking statements, including inaccurate assumptions and a broad variety
of risks and uncertainties, some of which are known and others of which are not.
Those and other risks are described in materials the Company has filed with or
furnished to the Securities and Exchange Commission, copies of which are
available from the SEC or may be obtained upon request from the Company. No
forward-looking statement is a guarantee of future results or events, and one
should avoid placing undue reliance on such statements.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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