1st May 2008 07:00
Consort Medical PLC01 May 2008 Consort Medical plc Pre-close Season Trading Statement Consort Medical plc (LSE: CSRT), today issues its Pre-close Season TradingStatement for the 53 weeks to 3 May 2008. Consort Medical develops drug delivery devices for the pharmaceutical industryand disposable airway management products for critical care settings inhospitals. The Group operates through two divisions: Bespak and King Systems. The Group continues to perform in line with our expectations. Bespak Division Continued Market Share Gain in Valves Our HFA metered dose inhaler (MDI) valves are now used in more than 30 (or abouttwo thirds) of marketed HFA respiratory drugs and we are continuing to see asteady uptake of these valves ahead of the end of 2008, when CFC propellantswill be phased out of use for albuterol in the US, the mainstay asthma therapyin the world's largest market. In addition, Bespak valves have been selected for trial in more than 50 otheralternative drug development programmes many of which are expected to reach themarket over the coming years. Dose Counters The FDA's guidance requiring that dose-counters be fitted to all new MDIsrepresents a significant opportunity for the Bespak division. A number of customers are evaluating our dose counting design platform for use in MDIformulations for the US market. We anticipate that commercial sales will beginin 2009 in the USA and that because of the considerable advantage which our dosecounter designs bring to sufferers of respiratory illness will lead to themarketing of similar devices in Europe and the rest of the world. Device Services Our marketed products continue to meet expectations. Developments of other programmes such as that for Chiesi's Next(R) Dry PowderInhaler remain on schedule. King Systems Division Sales to King Systems' core markets continue to be driven by growing demand forthe division's proprietary airway management devices including specialtybreathing circuits and face masks and by relatively new products such as theAIRTRAQ(R) disposable laryngoscope. Restructuring The restructuring announced in November 2007 remains on track, and the lastprogramme is scheduled to exit Milton Keynes in July 2008. The terminationpayment of £11m from Nektar was received in February and the payment has coveredour margin for the full financial year for Exubera(R) together with asignificant proportion of the costs of the UK restructuring. Consort Medical will be announcing its preliminary results for the 53 weeksended 3 May 2008 on 24 June 2008. For further information, please contact:Consort Medical plcJonathan Glenn, Chief Executive Tel: +44 (0) 1908 552600Paul Boughton, Acting Group Finance Director MaitlandLiz Morley or Brian Hudspith Tel: +44 (0) 20 7379 5151 Consort Medical plc is a leader in medical devices for inhaled drug delivery andanaesthesia. The Group develops drug delivery systems for the pharmaceuticalindustry and disposable airway management products for critical care settings inhospitals. Consort Medical develops and manufactures metered dose inhaler valves,actuators, compliance aids, dry powder devices, disposable facemasks, breathingcircuits and laryngeal tubes. The Group has facilities in King's Lynn andMilton Keynes in the UK, Indianapolis, Indiana and Kent, Ohio in the US, andMumbai, India. Consort Medical is a public company quoted on the full list ofthe London Stock Exchange (LSE: CSRT). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CSRT.L