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To: veliny who wrote (6846)	3/1/2001 7:19:48 PM
From: veliny	Read Replies (2) of 14101

Provalis released their 6mth results to Dec 31 2000. Here is the link. ukinvest.uk-wire.com Some excerpts... "Pennsaid is a significant opportunity for Provalis and was acquired in the face of competition from major UK pharmaceutical companies. Interest in the product has been high and it will be launched in March 2001, although the sales impact will not be seen until the next financial year" "This[Healthcare]Division is undergoing a period of significant investment with a major increase in the sales force to 42 (up from 29 in 2000 and 16 in 1999)resentatives and additional marketing staff, in readiness for the introduction of Pennsaid - a new topical anti-inflammatory product for treatment of osteoarthritis. Launch in the UK is scheduled for March 2001." "The product is expected to make an important contribution to the Division's turnover. The product is an effective topical non-steroidal anti-inflammatory treatment that significantly reduces systemic side effects. It enters a significant therapeutic market segment in the UK worth some £200m per year which is generally dissatisfied with current treatment and sees a great deal of product switching. The Board believes Pennsaid is a product which will compete successfully in this market." "The expansion of the sales force will result in increased overhead costs in the next six months, but the expected benefit of increased contribution from both Pennsaid and the established product range should justify this investment." No mention of terms - upfront payments or royalty fees where given since the agreement was signed after Dec 31 2000.

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