FUL.L Regulatory News (FUL)

15 Nov 2007 07:01

Fulcrum Pharma PLC15 November 2007 FULCRUM PHARMA PLC ("the Company") Notice of Results and trading update Fulcrum Pharma plc (AIM: FUL), the drug development and regulatory servicescompany, announces that it expects to announce its final results for the yearended 31 August 2007 on 22nd November 2007. The Company is also pleased to provide a further trading update and guidance onthe results for the year ended 31 August 2007. Group sales for the year ended 31 August 2007 are expected to be in line withexpectations as is the operating profitability of the Group, other than at therecently acquired Unicus Regulatory Services Ltd ("Unicus"). As indicated in the Company's announcement of 15 August 2007, Unicus' sales inthe initial period after acquisition were below forecast and, whilst Unicus hasreturned to profitability, the losses are greater than originally anticipated.However a cash amount, reflecting these further losses, has been recovered fromthe vendor as a refund of consideration pursuant to the terms of the Unicus saleand purchase agreement. As previously announced, the Group's Japanese subsidiary has a full order bookfor the next two years based on current capacity and the strength of the Group'sUS business has recently been confirmed by its return to profitability and theopening of a new office in Ann Arbor, Michigan. Jon Court, Chief Executive of Fulcrum Pharma, said: "Going forward we remainoptimistic about the Group's performance based on a strong order book andUnicus' return to profitability." For further information, please contact: Fulcrum Pharma PLCJon Court, Chief Executive Tel: 0870 710 7152 Seymour PierceJonathan Wright Tel: 0207 107 9000 About Fulcrum Pharma plc Fulcrum Pharma plc is a drug development and regulatory services business thatprovides global expertise to achieve drug development and regulatory approvalmilestones. Fulcrum Pharma offers immediate access to a highly credible,integrated development team that provides strategic and operational leadershiprequired to ensure that new drugs move smoothly from discovery research toproduct approval Fulcrum Pharma is listed on the AIM Market of the London Stock Exchange havingsuccessfully floated in March 2000. This information is provided by RNS The company news service from the London Stock Exchange