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Gold/Mining/Energy : Nuvo Research Inc -- Ignore unavailable to you. Want to Upgrade?

To: Montana Wildhack who wrote (8248)	12/17/2001 2:44:33 PM
From: Joe Krupa	Read Replies (3) \| Respond to of 14101

DMX on Dow Jones Newswire. I like our new IR guy's style! ******************************************************************************************************* Dimethaid Up 10%; FDA Completes Plant Inspection >T.DMX** djones TORONTO (Dow Jones)--Shares of Dimethaid Research Inc. (T.DMX) are higher for the second straight session following word that the U.S. Food & Drug Administration completed its inspection of the company's manufacturing plant for production of lead product, PENNSAID. "It really is a significant event," Michael Shepherdson, Dimethaid's manager of investor relations, told Dow Jones. "It's an additional step on the road to FDA approval, a sign we're moving forward and bringing the product closer to market." The company posted the news Thursday night on its Web site as part of an updated "president's message." While the FDA has yet to give the facility its stamp of approval, the company is "confident" that will soon follow, he said. On Nov. 19, the stock spiked 39% after a similar Web site update announced that the FDA inspection had been scheduled. In Toronto trading, the stock is up 45 Canadian cents, or 10%, to C$4.85 on about 142,997 shares. It rose as high as C$5.10. PENNSAID is a topical lotion used to treat arthritis pain. Already approved and sold in the U.K., PENNSAID is awaiting regulatory approval in the U.S. and Canada. "It's wonderful to see progress from a regulatory agency," Shepherdson said, adding that shareholders have been frustrated by delays regarding the product's approval by Health Canada. "Our shareholders have been a little bit perturbed at the delay in Canada and I think are responding favorably now that the FDA is moving forward," Shepherdson said. He added that Health Canada inspected and approved Dimethaid's production facility in Varennes, Que., east of Montreal, last spring. "By their own timelines, PENNSAID should have been approved months ago in Canada," he said. Health Canada hasn't explained the delay, he said. With the product already on the market in the U.K., the issue isn't one of safety or efficacy, he noted. Dimethaid plans another update this week. Shepherdson said it could involve a number of things the company is working on, including approval in other European countries as well as partners for those areas. Company Web Site: dimethaid.com -Andy Georgiades, Dow Jones Newswires; 416-306-2031 DOW JONES NEWS 12-17-01 01:23 PM Copyright (C) 2001 Dow Jones & Company, Inc. All Rights Reserved. Copyright 2001 The Globe and Mail