Celadon Pharmaceuticals Regulatory News (CEL)

12 Feb 2009 07:00



Stock Exchange announcement

FOR release: 7.00am - 12 February 2009

CELSIS INTERNATIONAL PLC

("Celsis", "the Company" or "the Group")

Interim Management Statement

12 February 2009: Celsis International plc, the life sciences products and laboratory services company, today provides its Interim Management Statement for the third quarter ended 31 December 2008.

Throughout the third quarter Celsis continued to demonstrate momentum in its core businesses, despite the global economic contraction. Even with slightly slower trading due to the uncertainties facing many of its key customers at the end of 2008, early January indicators reflect strengthened trading. The Group believes that for the year as a whole it will sustain its revenue position and deliver modest profit growth with continued stronger performances by its core Rapid Detection and In Vitro Technologies product divisions.

The Celsis Rapid Detection division, which provides rapid microbial testing systems used to reduce the time and cost to manufacture products, has continued to generate solid reagent and consumable growth following its strong first half performance. Instrument sales which rely on capital equipment budgeting did slow at the end of the calendar year as customers' budgets became more constrained, but have since picked up in the fourth quarter. It is anticipated that the division will finish the year positively as its customer base, consisting of some of the world's leading pharmaceutical and consumer product companies, remains strongly focused on cost savings.

The Celsis In Vitro Technologies (Celsis IVT) division, which provides in vitro testing products to the pharmaceutical industries to reduce the time and cost of drug discovery and development, is expected to deliver positive growth for the year despite seeing a slower third quarter due to tightened year end budgets throughout the industry. The division has a healthy order book and marketing plans are in place to secure growth across all market segments. 

The Celsis Analytical and Development Services division, which provides outsourced laboratory services to the pharmaceutical industry, has seen a slower third quarter and is expected to complete the year down on last year's performance. Both Analytical and Development Services teams are working to expand existing and generate new contracts through the end of the financial year. A review which examines several strategic alternatives for the laboratory services businesses is currently being undertaken by the Board. 

Notes to editors

Celsis International plc

Celsis International plc is a leading international provider of innovative life science products and laboratory services to the pharmaceutical and consumer products industries. Each Celsis business has the capacity to deliver substantial time and cost savings to its customers, in addition to ensuring product quality and safety for consumers. Celsis' extensive client base includes many of the world's leading pharmaceutical and consumer products companies. The Company is listed on the London Stock Exchange (CEL.L).

Celsis Rapid Detection utilises proprietary enzyme technology to develop and supply diagnostic testing instruments and consumables for the rapid detection of microbial contamination in pharmaceutical and consumer products. These rapid testing systems provide significant economic value by reducing the time it takes to test and release raw materials, in process and finished goods to market. 

Celsis In Vitro Technologies (Celsis IVT) employs proprietary expertise in hepatocyte (liver cell) technology to supply in vitro testing products to the pharmaceutical industry. Celsis IVT's consumable testing products screen drug compounds for liver toxicity early in the drug discovery process, thereby reducing the time and cost of further development or research on those compounds that will not be properly metabolised by the human liver. 

Celsis Analytical and Development Services provides cost effective outsourced laboratory testing services to pharmaceutical companies. Its comprehensive service offerings include a full spectrum of laboratory services from discovery and drug development to analytical chemistry and from biological sciences to stability storage and testing. 

Further information can be found on its website at www.celsis.com.