With the recent management changes and the exit from the defense business, this co. is poised to ride the coattails of the rapidly growing and immense pharmaceutical business. Using its expertise from the defense business for safety critical products. BASEA has become a leader and pioneer in Manufacturing Execution Systems (MES) for pharmaceutical industry and the medical device manufacturing industry...Principle product has evolved over the last couple of years from PHARMASYST, to PHARM2, to the latest BASE10 ME, which should be released within the next 4-6 weeks...The system assists pharmaceutical makers in controllin costs and meeting the Current Good Manufacturing Practices (cGMP) required by thje FDA for the quality of pharmaceuticals and the integrity of data that support their safety and effectiveness... sustem has many checks and balances and sucurity measures neede in critical pharmaceutical manufacturing facilities and therfore can also be used for chemicals, food products. medical devices cosmetics. beverages and consumet package goods...
The software is very nbroad in scope, allowing drug cos. to comply with cGMP requirements governing inspection procedures. controls, storage, handling,smpling, testing, and disposal for each pharmaceutical batch, along with associated redcordkeeping refquirements...also verifies equipment and makes sure semployees arecertified to perform daily activities...New CEO Thomas Gardner, tells MarketScope, he sees substantial growth opportunities for MES softwqre due to increasing pressure for manufacturing productivityh, somthimng lackimng in pharmaceutical industry relative to other industries, and the current FDA complaiance policy, which coyld shut down a whole plant that does not have adequate processing controls...The software operates on a PC-based system in an open client/server environment and is designed as a standard application.
Major upgrade today on Base 10. Growth beginning in Q2 '98 with sequential quarterly revenue gains going out the next couple of years..losses should shrink throughout '98 with the co, turning profitable sometime in '99... With $13 million in cash, a new management team, and a very exciting opportunity to participate in the rapid growth for MES systems for the pharmaceutical industry, think BASEA has huge potential with very little risk./Mark Arbeter |
