6th Aug 2021 12:15
Venture Life Group PLC - Bracknell, England-based maker and distributor of self-care products - Buys brands and assets from cancer support company Helsinn Healthcare SA for CHF6 million, or around GBP4.7 million. Acquisition includes three on-market oncology support products including: Gelclair, an oral rinse for the management of cancer treatment symptoms; Pomi-T, a mix of wholefoods used to manage prostate cancer; and Xonrid, a hyaluronic acid-based topical gel to prevent and treat radiation induced dermatitis.
Says the brands generated gross profit of GBP1.3 million on sales of GBP2.5 million in 2020. Expects the acquisition to immediately enhance earnings, especially as the effects of the pandemic reduce.
"The brands we are acquiring are well-established brands, backed by good clinical data and already have meaningful revenues in many countries. We believe we can broaden the portfolio and offering, leveraging our in-house capabilities and expertise in medical devices and our geographic reach," Chief Executive Jerry Randall explains.
Current stock price: 89.00 pence, up 1.1% on Friday
Year-to-date change: down 4.3%
By Scarlett Butler; [email protected]
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