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Trading Update

Trading Update

Quantum Pharma Plc (AIM: QP.), held its Annual General Meeting in Newcastle today. At the meeting, Quantum's Chairman, John Clarke, made the following statement:

"Trading in the first half of the current financial year has been in line with management's expectations. Our Specials Division continues to be well placed in the market and has had a sound first half performance. We were pleased to extend our contract with AAH Pharmaceuticals, the UK's leading wholesaler and distributor of pharmaceutical and healthcare products.

"We are encouraged by the results of our programme of actions in our Niche Pharmaceuticals Division and have increased confidence in the processes and operating model. Importantly, the product launches during the year have all arrived largely in line with our expectations. We have announced product licences for two new strengths of Vitamin D capsules and the launch of Ergocalciferol 50,000 IU capsules, the first unlicensed to licensed development for this product in the UK, by way of a 'cease and desist' notice. Recently we announced the launch of the Mucodis® Dermal Spray.The range treats the unpleasant conditions in the mucosal membranes or skin which can be caused by the treatment of cancer. This is the third product launched in the Mucodis® range and we expect to announce a number of further product launches across the remainder of this financial year.

"In Medication Adherence, we have received Class 1 medical device status for Biodose Connect® which is now ready for patient use and we can start to implement our commercialisation strategy for this device.

"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."

Posted by: Quantum Webmaster on 12th July 2016