Proservice Bldg Regulatory News (PRO)

10 Jun 2005 07:00

Provalis PLC10 June 2005 10 June 2005 Provalis plc Provalis appoints Peter Woodford as Non-Executive Director Provalis plc (LSE: PRO; NASDAQ: PVLS), the international medical diagnostics andpharmaceuticals group, is pleased to announce that Peter Woodford, who hasextensive experience with Roche Diabetes Care, is appointed as a Non-ExecutiveDirector of the Company with effect from 1 July 2005. Frank Harding, Provalis Chairman, said; "Peter brings with him more than 30 years experience in the internationalhealthcare industry with particular expertise in the diagnostics arena. I knowhe will make a significant contribution in helping Provalis to build thecommercial base and value creation in our innovative diagnostic point of careplatform in2it(TM)." Peter Woodford, commented; "I'm looking forward to joining Provalis at this time and am particularlyexcited by the commercial potential of in2it(TM), the Group's flagship A1cdiabetes testing product. With the US launch of in2it underway and the Europeanlaunches following later, together with the other tests in the pipeline, thediagnostics business should now be set for growth in the year ahead." Peter Woodford's early career included a variety of sales, marketing and generalmanagement roles with several well-known companies in pharmaceuticals, medicalequipment and diagnostics. From 1987, Peter spent 15 years with RocheDiagnostics/Boehringer Mannheim, serving as Managing Director of their UKoperations before moving into international roles in 1994. He served as SeniorVice President, Roche Diabetes Care, responsible firstly for the Europe, MiddleEast and Africa Region and latterly for Global Marketing, Strategy and BusinessDevelopment. He spent 8 years at the headquarters of Roche Diabetes Care inMannheim, Germany with a secondary base in Indianapolis, USA, leading all globalstrategic and commercial activities for Roche Diabetes Care; a £1.2billionbusiness. Peter left Roche in 2002 and has since been advising a number of companies andinvestors in the diagnostics business. He is a non-executive director of BJSBiotechnologies Ltd and a past vice chairman of the British In Vitro DiagnosticsAssociation. ------------- For further information:- Provalis plc Dr Phil Gould, Chief Executive Officer 01244 833463 Mr Peter Bream, Finance Director 01244 833552College Hill Adrian Duffield/Corinna Dorward 020 7457 2815/2803 Notes to Editors Provalis plc (LSE: PRO; NASDAQ: PVLS) is an international healthcare group withtwo operating businesses:- • Medical Diagnostics - develops medical diagnostic products for chronic disease management for sale to world markets. The business' principal products are in2it(TM) A1c and Glycosal(R), both diabetes diagnostic tests. • Pharmaceuticals - sells and markets its own, and third party, branded, prescription medicines in the UK and Ireland to GPs and hospitals through its regionally managed sales force. The business' principal product is Diclomax(R), a medicine for use in the treatment of musculo-skeletal disorders, and it also sells products in the areas of osteoporosis, migraine and dermatology. Visit Provalis' Revised Website at http://www.provalis.com "Safe Harbor" Statement under the US Private Securities Litigation Reform Act of1995: Statements in this announcement that relate to future plans, expectations,events, performances and the like are forward-looking statements as defined inthe US Private Securities Litigation Reform Act of 1995. Actual results ofevents could differ materially from those described in the forward-lookingstatements due to a variety of factors. Such factors include, among others: theviability of the Group's products, which are at various stages of development;the generation of sufficient operating cash flow by the Group's pharmaceuticaland medical diagnostic businesses to finance the ongoing development of thesebusinesses as well as the Group's research and development activities; thesuccess of the Group's research and development strategy and activities;uncertainties related to future clinical trial results and the associatedregulatory process; the execution and success of collaborative agreements withthird parties; availability and level of reimbursement for the Group's productsfrom government health administration authorities or other third-party payors;the rate of net cash utilisation within the Group and, hence, the Group'spossible need for additional capital in the short, medium and/or long term; theGroup's intellectual property position and the success of patent applicationsfor its products and technologies; the Group's dependence on key personnel;general business and economic conditions; the impact of future laws, regulationsand policies; stock market trends in the Group's sector; and other factorsbeyond the Group's control that may cause the Group's available capitalresources to be used more quickly than expected. These and other factors thatcould affect the Company's future results are more fully described in itsfilings with the US Securities and Exchange Commission, in particular the latest20-F filing, copies of which are available from the Company Secretary at theCompany's registered address. This information is provided by RNS The company news service from the London Stock Exchange