26th Jul 2005 07:00
Provalis PLC26 July 2005 Provalis plc Update on progress of in2it(TM) A1c Provalis plc (LSE: PRO; NASDAQ: PVLS), the international medical diagnostics andpharmaceuticals group, is today providing an update on the progress of itsflagship product for the diabetes market, in2it(TM) A1c. Shipments of the enhanced in2it(TM) A1c cartridge have now commenced to the USA, as envisaged in Provalis' June statement. The upgraded analyzer was already inproduction and all existing distributors are being restocked with both theupgraded analyzer and cartridges. In addition, the next phase of the plannedexpansion of the cartridge manufacturing capacity is now available, on schedule,to meet expected demand through the rest of this year and into 2006. Supplieswill build steadily over the next few months and will utilise this increasedcartridge manufacturing capacity. Phil Gould, Chief Executive Officer of Provalis said, "We have rapidly made the small design changes to the cartridge manufacturingprocess and have already started to ship the enhanced product to the USA.Demand remains strong for a cost-effective and easy-to-use glycated haemoglobintesting product for diabetes, given over 17 million Americans are directlyaffected." 26 July 2005 For further information:- Provalis plcDr Phil Gould, Chief Executive Officer 01244 833463Peter Bream, Finance Director 01244 833552 College HillAdrian Duffield/Corinna Dorward, 020 7457 2815/2803 Notes to Editors Provalis plc (LSE: PRO; NASDAQ: PVLS) is an international healthcare group withtwo operating businesses:- • Medical Diagnostics - develops medical diagnostic products for chronic disease management for sale to world markets. The business' principal products are in2it(TM) A1c and Glycosal(R), both diabetes diagnostic tests. • Pharmaceuticals - sells and markets its own, and third party, branded, prescription medicines in the UK and Ireland to GPs and hospitals through its regionally managed sales force. The business' principal product is Diclomax(R), a medicine for use in the treatment of musculo-skeletal disorders, and it also sells products in the areas of osteoporosis, migraine and dermatology. ******************* Visit Provalis' Revised Website at http://www.provalis.com "Safe Harbor" Statement under the US Private Securities Litigation Reform Act of1995: Statements in this announcement that relate to future plans, expectations,events, performances and the like are forward-looking statements as defined inthe US Private Securities Litigation Reform Act of 1995. Actual results ofevents could differ materially from those described in the forward-lookingstatements due to a variety of factors. Such factors include, among others: theviability of the Group's products, which are at various stages of development;the generation of sufficient operating cash flow by the Group's pharmaceuticaland medical diagnostic businesses to finance the ongoing development of thesebusinesses as well as the Group's research and development activities; thesuccess of the Group's research and development strategy and activities;uncertainties related to future clinical trial results and the associatedregulatory process; the execution and success of collaborative agreements withthird parties; availability and level of reimbursement for the Group's productsfrom government health administration authorities or other third-party payors;the rate of net cash utilisation within the Group and, hence, the Group'spossible need for additional capital in the short, medium and/or long term; theGroup's intellectual property position and the success of patent applicationsfor its products and technologies; the Group's dependence on key personnel;general business and economic conditions; the impact of future laws, regulationsand policies; stock market trends in the Group's sector; and other factorsbeyond the Group's control that may cause the Group's available capitalresources to be used more quickly than expected. These and other factors thatcould affect the Company's future results are more fully described in itsfilings with the US Securities and Exchange Commission, in particular the latest20-F filing, copies of which are available from the Company Secretary at theCompany's registered address. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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