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Numis places Consort Medical 'under review'

Fri, 17th Jun 2016 09:29

(ShareCast News) - Consort Medical's shares were put 'under review' by Numis after the company reported its full year results.The pharmaceutical device frim on Thursday reported full year earnings before interest and tax rose 47.6% to £37m as revenues gained 49.8% to £276.9m, driven by a strong performance at its drug device manufacturing division Bespak and newly acquired pharmaceutical ingredient development group Aesica.The company also announced it has developed a generic version of the Advair asthma treatment with Mylan as its partner. However, approval by the FDA was pushed back by US authorities until 28 March 2017."The key news in the pipeline is the announcement, as was suspected, that DEV610 is Mylan's generic version of Advair, the first to file for US approval with a potential launch in April 2017 likely to lead to a significant stock build in Consort's second half in full year 2017," said Numis."The launch of British American Tobacco's Voke (DEV200) nicotine device, which has now been approved for well over a year, is 'hoped for' in the next 12 months. We put our estimates under review pending further analysis of the results." Numis had its previous rating on the stock at 'hold'.The broker said Mylan I the first to file a generic version of Advair in the US, followed closely by Hikma Pharmaceuticals and Vectura due on 10 May 2017.Numis anticipates a launch will have to be "timely and well supplied, which is likely to lead to a significant build-up of product in Consort's second half of fiscal year 2017 to ensure adequate launch supplies".

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3 Jan 2017 08:10

Consort Medical splutters as BAT stubs out Voke programme

(ShareCast News) - British American Tobacco has terminated an agreement with Consort Medical over the manufacture of nicotine inhalers for its Voke development programme. Consort, which said it was in "constructive dialogue" with BAT's Nicovations arm and product developer Kind Consumer over the fut

6 Dec 2016 08:18

Consort Medical posts good growth in first half

(ShareCast News) - Single source drug and delivery device company Consort Medical announced its interim results for the six months to 31 October on Tuesday. The London-listed firm said group revenue increased to £144.9m from £135.5m, representing underlying growth of 2.0% and reported growth of 6.9%

25 Nov 2016 09:07

Consort Medical appoints new CFO

(ShareCast News) - Consort Medical, a global provider of manufacturing solutions for drugs, announced that it has appointed Paul Hayes as group Finance Director of the Vitec Group. Hayes is taking over the position of chief financial officer from Richard Cotton as well joining the board as executive

27 Oct 2016 07:45

Consort Medical Welcomes Cimzia Autoclicks Launch On NHS

14 Oct 2016 12:23

Consort Medical's Bespak inks new agreement

(ShareCast News) - Consort medical, a global single source drug and Delivery device company (CDMO), has announced that its Bespak division has entered into an agreement with a biopharmaceutical company. Bespak manufactures drug delivery devices for pharmaceutical partner companies including respirat

19 Sep 2016 09:07

Consort Notes European Nod For Bespak Technology-Using Product

7 Sep 2016 08:43

Consort Medical signs agreement with AstraZeneca

(ShareCast News) - Consort medical, a provider of advanced technology for drugs, has signed a new contract with pharmaceutical giant AstraZeneca for the supply of its Bespak respiratory devices. AstraZeneca and Bespak have agreed to enter into a multi-year agreement for the scale-up and supply of Be

7 Sep 2016 07:03

Consort Medical Sees Little Brexit Impact; Signs Deal With AstraZeneca

23 Jun 2016 15:19

Director dealings: Derwent London CEO sells just ahead of Brexit vote

(ShareCast News) - Derwent London chief executive John Burns has sold £1.5m of the FTSE 250 real estate investor's shares in the week just before the EU referendum which could seriously lift or undermine the company's shares. In Wednesday's sale, which comes two days before results for Britain's ref

16 Jun 2016 14:52

Consort Medical's annual revenues rise as a product launch is delayed

(ShareCast News) - Consort Medical, a pharmaceutical device company, revealed higher full year profits on Thursday due to organic growth and an acquisition. Revenues rose 49.8% to £276.9m from £184.8m the previous financial year. Bespak, the company's drug device manufacturing subsidiary, continued

16 Jun 2016 07:37

Consort Medical Profit Doubles As Progress Made On DEV610 Programme

9 Jun 2016 15:04

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5 Apr 2016 08:32

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22 Feb 2016 16:51

Consort Medical agrees partnership and invests in Precision Ocular

(ShareCast News) - Consort Medical has made a £3.3m equity investment for a 13.7% stake in retinal therapeutics specialist Precision Ocular and agreed a development and manufacturing partnership. London-based Precision Ocular has developed retinal treatments that are designed to access specific sma

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