LONDON (Alliance News) - Life sciences company TyraTech Inc on Thursday said its results for 2016 will broadly meet market expectations, despite its rate of sales growth having slowed in the second half.
TyraTech said sales of its Vamousse head lice treatment range grew by a double-digit percentage in 2016 year-on-year and the product gained market share against its competitors.
However, TyraTech said the growth rate for Vamousse slowed in the second half, due to a broader slowdown for the lice treatment market in the US, though this trend did improve in the final months of the year.
TyraTech said it had responded to the slowdown be keeping a tight lid on costs and, as such, its results will broadly meet market expectations for 2016.
The company said US pharmacy chain Walgreens has decided to add Vamousse Lice Defense shampoo and Vamousse Lice Elimination powder to its shelves, and the group said that US grocery chain Kroger is to test its Guardian mosquito and tick repellent in 2017.
Field testing results for the firm's brands under the PureScience animal health brand has also been positive, with good feedback from production facilities affiliated with major poultry and pig producers in the US.
Shares in TyraTech were down 1.1% to 1.85 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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