donnie
21-11-2006, 08:16 PM
PharmAust could start to turn the corner soon, its currently in a bit of a down trend at the moment.
REVIEW OF OPERATIONS
In its first full financial year since listing in December 2004, PharmAust Limited (ASX:
PAA) has achieved some important milestones and set a foundation for growth.
PharmAust has experienced a 110% increase in top-line income to deliver a full year
income result of $6.9 million (2005: $3.244m). In addition, PharmAust has
demonstrated a 97% increase in Net Tangible Assets to $7.3 million (2005: $3.7m).
Establishment of PharmAust Manufacturing Pty Ltd
– Major refurbishment of manufacturing facility
– TGA license granted
– ARTG key product validation complete
– Production and sales underway
Expansion of Epichem Pty Ltd
– Continued significant revenue growth through increased contracts
– Production of pharmaceutical standards = additional new revenue stream
– Rapid staffing expansion to cope with demand
Achievement of Mimotopes Pty Ltd
– Significant revenue growth through global contracts and sales alliances
– Cost savings and capacity expansion through successful outsourcing to
China
– Proposed Purchase, if completed, would result in a significant increase in
NTA for PharmAust Limited.
PharmAust is now well positioned for continued growth in its two key markets:
(1) pre-clinical drug discovery and (2) consumer healthcare.
1. Consumer Healthcare
Highlights - PharmAust Manufacturing Pty Ltd
After major refurbishment, the new PharmAust Manufacturing facility was completed
in January 2006, with the Therapeutic Goods Administration (TGA) granting a license
in March 2006. Since the grant of the license, work focused on commissioning the
new plant and validating the manufacture of its products to TGA requirements.
To date, validation work has been completed on leading products such as antiseptic,
disinfectant and sunscreen products. PharmAust Manufacturing is now producing
and selling products via a range of direct supply agreements.
PharmAust Manufacturing has also entered into new multiple supply contracts with
marketing groups to develop and contract manufacture their products.
Sales and Marketing
Through newly established sales and marketing division, PharmAust Health, the
company has developed a number of agreements to supply, and is now supplying its
600+ products to the hospital, retail grocery and retail and wholesale pharmacy
sectors.
PharmAust Health has taken over PharmAust Manufacturing’s existing supply
agreements to supply into the Hospital and Pharmacy markets.
PharmAust Health has established relationships with several major retail grocery
chains and is tendering to all of Australia’s largest retailing groups for a range of OTC
and personal care products.
The licensing, supply and distribution agreements that PharmAust has established to
supply paracetamol, ibuprofen and simvastatin generic drugs to the retail grocery and
pharmacy sectors will be delivered through PharmAust Health. Registration and
licensing of these drugs are well advanced.
2. Drug Discovery & Development
Highlights - Epichem Pty Ltd
Epichem Pty Ltd provides synthetic and medicinal chemistry services to the drug
discovery and pharmaceutical industries. Epichem enjoyed a particularly strong last
half of FY05/06, rapidly expanding its client base - particularly in the USA. This
growth saw the company employ five new synthetic chemists to cope with demand.
During the period Epichem signed a range of new contracts, including a deal to
provide a major US-based multinational pharmaceutical company with contract
services valued at $340,000. A number of other significant contracts with Australian
based drug discovery companies have also been signed.
Management identified a new opportunity in catalogue products in FY06. Epichem
now supplies pharmaceutical standards (used in quality control of pharmaceuticals),
which it stocks to enable immediate dispatch. Early sales have exceeded.....
http://sa.iguana2.com/cache/2de8d1e2ff4394b4a319817d451f5948/ASX-PAA-333933.pdf
REVIEW OF OPERATIONS
In its first full financial year since listing in December 2004, PharmAust Limited (ASX:
PAA) has achieved some important milestones and set a foundation for growth.
PharmAust has experienced a 110% increase in top-line income to deliver a full year
income result of $6.9 million (2005: $3.244m). In addition, PharmAust has
demonstrated a 97% increase in Net Tangible Assets to $7.3 million (2005: $3.7m).
Establishment of PharmAust Manufacturing Pty Ltd
– Major refurbishment of manufacturing facility
– TGA license granted
– ARTG key product validation complete
– Production and sales underway
Expansion of Epichem Pty Ltd
– Continued significant revenue growth through increased contracts
– Production of pharmaceutical standards = additional new revenue stream
– Rapid staffing expansion to cope with demand
Achievement of Mimotopes Pty Ltd
– Significant revenue growth through global contracts and sales alliances
– Cost savings and capacity expansion through successful outsourcing to
China
– Proposed Purchase, if completed, would result in a significant increase in
NTA for PharmAust Limited.
PharmAust is now well positioned for continued growth in its two key markets:
(1) pre-clinical drug discovery and (2) consumer healthcare.
1. Consumer Healthcare
Highlights - PharmAust Manufacturing Pty Ltd
After major refurbishment, the new PharmAust Manufacturing facility was completed
in January 2006, with the Therapeutic Goods Administration (TGA) granting a license
in March 2006. Since the grant of the license, work focused on commissioning the
new plant and validating the manufacture of its products to TGA requirements.
To date, validation work has been completed on leading products such as antiseptic,
disinfectant and sunscreen products. PharmAust Manufacturing is now producing
and selling products via a range of direct supply agreements.
PharmAust Manufacturing has also entered into new multiple supply contracts with
marketing groups to develop and contract manufacture their products.
Sales and Marketing
Through newly established sales and marketing division, PharmAust Health, the
company has developed a number of agreements to supply, and is now supplying its
600+ products to the hospital, retail grocery and retail and wholesale pharmacy
sectors.
PharmAust Health has taken over PharmAust Manufacturing’s existing supply
agreements to supply into the Hospital and Pharmacy markets.
PharmAust Health has established relationships with several major retail grocery
chains and is tendering to all of Australia’s largest retailing groups for a range of OTC
and personal care products.
The licensing, supply and distribution agreements that PharmAust has established to
supply paracetamol, ibuprofen and simvastatin generic drugs to the retail grocery and
pharmacy sectors will be delivered through PharmAust Health. Registration and
licensing of these drugs are well advanced.
2. Drug Discovery & Development
Highlights - Epichem Pty Ltd
Epichem Pty Ltd provides synthetic and medicinal chemistry services to the drug
discovery and pharmaceutical industries. Epichem enjoyed a particularly strong last
half of FY05/06, rapidly expanding its client base - particularly in the USA. This
growth saw the company employ five new synthetic chemists to cope with demand.
During the period Epichem signed a range of new contracts, including a deal to
provide a major US-based multinational pharmaceutical company with contract
services valued at $340,000. A number of other significant contracts with Australian
based drug discovery companies have also been signed.
Management identified a new opportunity in catalogue products in FY06. Epichem
now supplies pharmaceutical standards (used in quality control of pharmaceuticals),
which it stocks to enable immediate dispatch. Early sales have exceeded.....
http://sa.iguana2.com/cache/2de8d1e2ff4394b4a319817d451f5948/ASX-PAA-333933.pdf