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Biotech / Medical : Peptech Limited (ASX: PTD)

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To: Angelo Ferraro who wrote (1)	6/22/1998 12:28:00 AM
From: Angelo Ferraro	of 5

Peptech up on FDA approval of Ovuplant SYDNEY, June 22 (Reuters) - Shares in drug developer Peptide Technology Ltd jumped 14 percent in Monday's early trade after the company's new veterinary product Ovuplant was approved by the U.S. Food and Drug Administration (FDA). By 12 p.m. (0200 GMT), Peptech had risen 5.5 cents to 44.5 cents after peaking at 48 cents on high volume of 265,000 shares following Friday's trading halt pending the announcement. ''Obviously, the market is speculating on what that's worth to the company in terms of sales over there,'' said dealer Steve Mayne of Nevitts. Ovuplant uses synthetic natural hormones to regulate ovulation in horses to improve fertility rates and increase the efficiency of stud operation. biz.yahoo.com

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