12th Jul 2016 07:31
LONDON (Alliance News) - Niche pharmaceuticals company Quantum Pharma PLC on Tuesday said trading in the first half of 2016 has been in line with its expectations and said its chief executive will step down.
Quantum said its Specials unit has continued to perform well in the first half and it has seen encouraging progress in its Niche Pharmaceuticals unit, increasing confidence in its business model.
"As previously indicated, our performance for the current financial year will be second half weighted as we bring our product pipeline to the market. As this is progressing well, we are positive about the company's outlook," said Chairman John Clarke, in a statement to be given at the company's annual general meeting.
Quantum said Chief Executive Andrew Scaife has resigned from his role for "family reasons". A formal search for a replacement has been started and Scaife will remain in place until an appointment is made and handover completed.
Shares in Quantum were down 6.1% to 65.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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