Eco Animal Regulatory News (EAH)

13 Feb 2006 07:01

Lawrence PLC13 February 2006 13 February 2006 Lawrence plc Eco Animal Health - Update on Registrations and Trading Registrations Lawrence is pleased to report that its Eco Animal Health (Eco) subsidiary hasreceived further registration approvals for Aivlosin and Ecomectin. Aivlosin isits patented macrolide antibiotic for the prevention and treatment ofrespiratory and digestive diseases in pigs and poultry. Ecomectin is an antiparasite endectocide. The latest Aivlosin approvals from The European Agency for the Evaluation ofMedicinal Products (EMEA) are for a low concentration feed premix and oralpowder, which will allow for the dosing of groups and individual pigs. This willenable Eco to access the key swine markets of France, Germany, Netherlands andPoland where close to half of Europe's pigs are produced. Eco will also be ableto sell this additional form of Aivlosin to improve penetration of otherEuropean markets where Aivlosin high concentration formulation is alreadyavailable. Eco was expecting to receive an EMEA opinion on Aivlosin in January covering thetreatment of ileitis in pigs and it was expecting an opinion covering thetreatment of dysentery in pigs in April. In addition Eco was expecting anopinion on Ecomectin for pig injection. The EMEA has now advised Eco that itintends to alter its timetable and will now hold a single hearing in mid Marchcovering both Aivlosin applications. The Ecomectin opinion is expected later inthe year. In Japan, Eco has received product registrations for its Ecomectin pig premix,which extends the Ecomectin range of injection and pour-on formulations. Trading The news from the EMEA is positive with a significant number of approvalsgranted, although the revised timing for the balance will have the effect ofmoving a number of opening orders, when the appropriate approvals are granted,from the end of the current financial year into the next financial year. TheInterim Report indicated that Eco's budget for the current year was based ondelivering opening Aivlosin orders resulting from all the approvals describedabove. Accordingly the Board expects that revenues for the current financial year willbe behind market expectations principally as a result of lower than expectedsales of higher margin products in Europe. Therefore overall gross margins willbe lower than anticipated and accordingly profits before tax for the period willbe significantly below expectations. Overall Eco's business continues to expand rapidly. The Lawrence Interim Reportindicated that Eco's sales in the first half were thirty per cent above theequivalent period in the previous year. The second half has seen an acceleratingtrend and Eco's cumulative sales for the first ten months of the current yearare over fifty per cent ahead of the previous year. This augurs well for thecontinued strong growth of Lawrence's animal health business. Contacts: Peter LawrenceChairman, Lawrence plc020 8336 2900 Anthony SpiroSpiro Financial020 8949 0428 Philip DaviesCharles Stanley Securities020 7953 2457 Notes to Editors: Lawrence plc is a leader in the development, manufacture and distribution ofprincipally specialist chemical and pharmaceutical products for the animalhealth and farming markets worldwide. Our products for these growth marketsincorporate natural ingredients to promote well being and sustainability. Weachieve our financial goals through the careful and responsible application ofscience to generate value for our shareholders. This information is provided by RNS The company news service from the London Stock Exchange