Ethical Holdings plc Reports Record Third Quarter Revenues and Loses £1.26 Million

Strategic Insights -

Ethical Holdings plc, a specialist drug delivery group, has reported a significant increase in revenues for the third quarter of 1995, with a loss of £1.26 million. The Group's revenues increased by 32 percent to £2.71 million from £2.06 million in the same period in 1994, with a 48 percent rise in total revenues for the first nine months of the year.

Key Takeaways:

  • The Group reported a loss of £1.26 million for the third quarter, compared to a loss of £0.10 per share.
  • Revenues increased by 32 percent to £2.71 million, with a 48 percent rise in total revenues for the first nine months of the year.
  • Licensing and development fees rose by 34 percent to £1.34 million, reflecting continued milestone payments under existing oral and transdermal development programs.
  • The Group signed agreements with Boehringer Ingelheim and Solvay Healthcare Ltd. to market its twice-a-day morphine product in 23 territories in Europe and parts of the former Soviet Union.
  • Ethical Holdings plc extended its commercial relationship with Solvay, granting the company semi-exclusive rights to market the Group's estradiol patch in the UK.
  • The Group signed an option with a major Japanese pharmaceutical company to enter into a Licensing and Development Agreement for the Group's transdermal combination patch.
  • Regulatory approvals for the Group's twice-a-day morphine product were received from the authorities in Singapore, Malaysia, and Austria.

Statistics:

  • Revenues increased by 32 percent to £2,710,694 in the third quarter.
  • Total revenues for the first nine months of the year were £8,005,639, a rise of 48 percent compared to £5,404,136 in the corresponding period in 1994.
  • Licensing and development fees rose by 34 percent to £1,338,244 in the third quarter.
  • The Group's loss for the third quarter was £1,264,146.

Sources:

  • "Ethical Holdings plc Reports Third Quarter Results and Signs Licensing Agreements" (PRNewswire, July 18, 1995).
  • "Ethical Holdings plc" (Annual Report, 1995).