Trading Update and Notice of Half Year Results
Quantum Pharma Plc (AIM:QP.), the growing, service-led niche pharmaceutical developer, manufacturer and supplier to the health and care sectors, is pleased to announce its trading update for the half year ended 31 July 2016.
Quantum made good progress during the half year and the Board is pleased to announce that trading for the period was in line with management expectations.
During the period the Group launched a number of products from its Niche Pharmaceuticals division, particularly in the second quarter. The timing of these product launches has been largely in line with our expectations and we are now moving into the market access and sales delivery phase in relation to those products.
The Vitamin D product portfolio was extended by launching Colecalciferol 800 IU capsules and 1000 IU capsules in both branded (Aviticol®) and generic versions, as well as Ergocalciferol 50 000 IU capsules. In the past two months the Mucodis® range of in-licensed patented medical devices was completed by the launch of a further three Mucodis® products.
Since the period end, we have launched our licensed Glycopyrronium Bromide 1mg/5ml Oral Solution for the treatment of peptic ulcers. This is significant in illustrating the deliverability of the Group's strategy of converting unlicensed to licensed products.
The Specials Division continues to be well placed in the market and traded in line with management expectations during the first half. In April, we were pleased to extend our contract with AAH Pharmaceuticals, the UK's leading wholesaler and distributor of pharmaceutical and healthcare products, which is important for the Group financially and strategically.
The Board continues to expect the Group to meet market expectations for the full year to 31 January 2017. As previously indicated, the Group's performance for the year is second-half weighted and will be dependent on the level of sales achieved by recent product launches as well as the timing and sales of further product launches due to be delivered in the remainder of the year.
Notice of Half Year Results
Quantum will announce its half year results for the six months ended 31 July 2016 on Tuesday, 4 October 2016. A meeting for analysts will be held at 09.30 a.m. on the morning of the results, 4 October 2016, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For further information please contact Buchanan at the details below.
Posted by: Quantum Webmaster on 31st August 2016