(AFR) 02/08/01 07:30: Provalis PLC - Manufacturing Expansion
Provalis PLC - Manufacturing Expansion
RNS Number:8805H
Provalis PLC
2 August 2001
FOR IMMEDIATE RELEASE 2 AUGUST 2001
PROVALIS PLC
Second Facility in Deeside, Wales to support growing supply and distribution
operations in Healthcare and Diagnostics divisions
Provalis plc (LSE.PRO; NASDAQ.PVLS), the UK based integrated healthcare company, has entered into a 10 year lease for a new building near to its existing head office and manufacturing facility in Deeside, North Wales. Provalis is having the new building extended to 11,000sq.ft, and converted to provide expanded warehouse facilities, and a dedicated diagnostics manufacturing suite.
The warehouse facilities are due for completion by September 2001, and will be used by both the Healthcare and Diagnostic divisions. The expanding Healthcare division is particularly in need of this additional space following the recent, successful launch of Pennsaid(R) into the UK market.
The manufacturing suite, which will be the largest section in the new
building, will accommodate a new automated filling and assembly line for the cartridges of the Company's diabetes test, GlycosalTM. It is expected to come on stream in stages from early 2002. This additional manufacturing capacity is required to meet the anticipated uptake and growth in market demand for GlycosalTM, which was launched in mid 2000. The manufacturing suite will also house the pilot plant for Provalis' new diabetes diagnostic product codenamed 'G5'.
Phil Gould, Chief Executive of Provalis commented: "The expansion of our Operating businesses, Healthcare and Diagnostics, is critical to rapidly delivering the Provalis' stated strategy of generating positive cash flows to support the Group's longer term and high value R&D programmes. This investment in new manufacturing and warehouse facilities provides us with a stronger product supply and distribution base for these key divisions for the future"
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Provalis' Internet Website ; provalis.com
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Some or all of the statements in this document that relate to future plans, expectations, events, performances and the like are forward looking statements as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward looking statements due to a variety of factors, including those set forth in Provalis plc's filings with the US Securities and Exchange Commission.
For further information:-
Dr Phil Gould, Provalis plc,
Tel: 01244 833463
Mr Lee Greenbury, Provalis plc,
Tel: 01244 833402
Lisa Baderoon, Buchanan Communications,
Tel: 020 7466 5000
(Mobile: 07721 413496)
Notes to Editors
Provalis plc (LSE.PRO and NASDAQ.PVLS) is an integrated healthcare business with three separate divisions focused on the supply and sale of prescription medicines, the development, manufacture and sale of medical diagnostics worldwide, and the development of new therapeutic products, such as vaccines to combat infectious diseases.
The three divisions are:-
Healthcare - This division sells and markets branded, third party,
prescription medicines in the UK to GPs and hospitals through its own
regionally managed sales force. This division sells products in the areas of gastroenterology, osteoarthritis, osteoporosis, migraine and dermatology.
Medical Diagnostics - This division develops and sells medical diagnostic products to world markets through distributors. The division has an established business in diagnostic products, including the innovative products GlycosalTM and OsteosalTM in the areas of diabetes and osteoporosis respectively.
Therapeutic R&D - This division develops a range of recombinant surface protein based antigen vaccines for serious infectious diseases. It has a number of candidate vaccines at the pre-clinical stage of development.
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