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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bioprogress | LSE:BPRG | London | Ordinary Share | GB0032681628 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 50.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7807D BioProgress PLC 13 September 2007 For Immediate Release 13 September 2007 BioProgress plc - Update after EGM London, UK, 13 September 2007: BioProgress plc ('BioProgress' or the 'Company') (AIM: BPRG), the specialty pharma and healthcare company, announces that the Company will be giving the following update today following the Company's Extraordinary General Meeting ('EGM') to seek shareholder approval to change the name of the Group from BioProgress Plc to Meldex International Plc. Grant of pivotal European Patent for TabWrap(TM) enabling technology. BioProgress is pleased to announce that it received the grant of its core TabWrap(TM) patents entitled "Method of Tablet Enrobing" on 29th August 2007 within Europe. The granting of this patent is an important milestone in the commercialisation of the valuable TabWrap(TM) technology which is currently being commercialised. Uluru Inc ('Uluru') contract manufacturing agreement BioProgress has entered into agreements with Uluru regarding moving the manufacturing of its Oradisc(TM) products to the Company's manufacturing facility in Tampa, FL. This will include the manufacturing for Collunovar Oradisc(TM) for BioProgress' agreed markets, and for Uluru's other partners in the US and other markets. OraDisc(TM) B is a product developed from Uluru's adhesive film technology which incorporates benzocaine for the treatment of oral pain. BioProgress is expected to file for regulatory approval of the OraDisc(TM) B product during Q4 2007. BioProgress expects penetration rates in core EU, CIS, and Middle Eastern markets to reach approximately 12% within the first three years of product launch with peak annual sales in excess of #25m. Based on Uluru's projections an additional $5m of revenues per annum are expected to be generated via the new contract manufacturing arrangements. Walmark AS ('Walmark') distribution agreement The Group also announces that through its Melbrosin OTC division it will be entering into a supply and distribution arrangement with Walmark, the largest nutritional and pharmaceutical manufacturer and distributor in the CEE region. The CEE block of countries are recognized as the fastest growth region of OTC products by price and volume within the whole European region exhibiting up to 30% increase in sales compared to 5% in Western Europe (Source:IMS). This supply and distribution will be in two phases; firstly into the Czech Republic and Slovakia with a further roll out into Hungary, Poland, Bulgaria and Ukraine. Interims The Company is also pleased to announce that it will be releasing its interim results for the six months ending 30 June 2007 on Tuesday 25 September 2007. Steve Martin, Chief Development Officer, BioProgress said: "The grant of the core European patents for TabWrap(TM) enhances significantly the commercial value of our enabling systems. The strong working relationship with Uluru is being cemented with our manufacturing ability at Tampa and highlights the importance of Oradisc(TM) B within our portfolio of product developments." Richard Trevillion, Chief Executive Officer, BioProgress said: "I am pleased to announce further significant progress in the execution of the Group's commercial strategy. The additional manufacturing and distribution agreements, along with the pivotal agreement with a third party on TabWrap(TM), clearly show the level of momentum within the business. For further information: BioProgress Plc + 44 (0) 20 7098 9881 Richard Trevillion, CEO Steve Martin, CDO Hiral Patel, CFO Buchanan Communications + 44 (0) 20 7466 5000 Rebecca Skye Dietrich/Mark Court About BioProgress BioProgress plc is an innovative specialty pharmaceutical and healthcare business based around its platform technologies in polymer and film systems. Listed on London's AIM in May 2003, The company has over 80 patents granted or in application within 24 patent families and has product development agreements and strategic alliances with several global companies. As a virtually integrated business, BioProgress has acquired sales and marketing resources within Europe and the US as a launch mechanism for its own pharmaceutical products. The business continues to develop innovative delivery mechanisms using its XGEL(TM) polymer technology. For further information please go to www.bioprogress.com Forward-Looking Information The Ordinary Shares of BioProgress plc are registered under the US Securities and Exchange Act of 1934. To the extent that this announcement contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, this paragraph applies. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. The forward-looking statements in this release include statements addressing future financial and operating results and the timing and benefits of the reorganisation. Detailed information about factors pertinent to the business of the company that could cause actual results to differ is set forth in the Company's filings with the Securities and Exchange Commission. The Company is under no obligation to (and expressly disclaim any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This announcement is for information only and does not constitute an offer or invitation to acquire or dispose of any securities or investment advice. The distribution of the announcement and/or issue of securities in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about and to observe such restrictions. This information is provided by RNS The company news service from the London Stock Exchange END MSCLLLLFDKBLBBF
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