DEESIDE, FLINTSHIRE, U.K., Dec. 3, 2004 (PRIMEZONE) -- Provalis plc (LSE:PRO) (Nasdaq:PVLS), the Medical Diagnostics and Pharmaceuticals Group, is pleased to announce that its Medical Diagnostics business is today making the first commercial shipment of in2it(TM) A1c to the US. in2it(TM) A1c, Provalis' new, fully automated, diabetes diagnostic test, is sold directly to a network of sub-distributors in the US by Provalis Diagnostics USA, the US based sales organisation established by Provalis earlier this year.
In addition, Provalis exhibited in2it(TM) A1c at Medica, Europe's leading exhibition of medical diagnostic equipment, last week. Response from attendees was very positive and discussions are on-going with selected distributors regarding the product's launch in Europe, which is scheduled for the Summer of 2005.
Phil Gould, Chief Executive Officer of Provalis, said "I am delighted that shipment of in2it(TM) to the US market is now underway. We are extremely pleased by the enthusiastic response to the product in the US, with orders continuing to build following the exceptionally strong response from many sectors of the US healthcare market. in2it(TM)'s ease and speed of use, economic pricing and laboratory-standard performance have been major selling points for us and we look forward to a steadily increasing stream of weekly shipments over the next few months and to European launch in Summer 2005."
Provalis' Website; http://www.provalis.com
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: Statements in this announcement that relate to future plans, expectations, events, performances and the like are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. Actual results of events could differ materially from those described in the forward-looking statements due to a variety of factors. Such factors include, among others: the viability of the Group's products, which are at various stages of development; the generation of sufficient operating cash flow by the Group's pharmaceutical and medical diagnostic businesses to finance the ongoing development of these businesses as well as the Group's research and development activities; the success of the Group's research and development strategy and activities; uncertainties related to future clinical trial results and the associated regulatory process; the execution and success of collaborative agreements with third parties; availability and level of reimbursement for the Group's products from government health administration authorities or other third-party payors; the rate of net cash utilisation within the Group and, hence, the Group's possible need for additional capital in the short, medium and/or long term; the Group's intellectual property position and the success of patent applications for its products and technologies; the Group's dependence on key personnel; general business and economic conditions; the impact of future laws, regulations and policies; stock market trends in the Group's sector; and other factors beyond the Group's control that may cause the Group's available capital resources to be used more quickly than expected. These and other factors that could affect the Company's future results are more fully described in its filings with the US Securities and Exchange Commission, in particular the latest 20-F filing, copies of which are available from the Company Secretary at the Company's registered address.
Notes to Editors
Provalis plc (LSE: PRO; NASDAQ: PVLS) is a diversified healthcare group with two 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, and Osteosal(R), a diagnostic
test for osteoporosis.
- 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 gastroenterology, osteoporosis, migraine
and dermatology.
This information is provided by RNS The company news service from the London Stock Exchange