Pharmaceuticals Firm Stirling Products Outlines Strategy for 2010.
Peter Boonen also said trials for animal growth promoter R-Salboutamol have been "very successful". Mr Boonen, who took over as MD earlier this year, said: "Our strategy is not complete yet, itas global, itas big, itas aggressive and weare not there by a long shot yet. Weave got another year of hard work, but we are expecting significant revenues to start during the first quarter of next year.
"Weave publicly announced that by midyear what we are targeting is break even and profitability. Odds of achieving that -- weare on target today, weare ahead of where weave strategised ourselves to be.".
The Australia-based company has also recently acquired a pharmaceutical facility in Canada. Mr Boonen said: "Weave got essentially a multi million dollar facility on very extraordinary terms that we havenat announced at the moment. Weave been advised that the property has been sold to us. It is subject to court ratification or court approval. It gives us control over certain production of certain products that we want to control there."
Mr Boonen said trials for the firmas animal growth promotion drug R-Salboutamol have been taking place in South Africa. He added: "Itas highly unusual for a small cap company such as Stirling to even have it in its portfolio. It is the worldas only single enantiomer beta agonist, thereall never be another one. Now that goes a hell of a long way to saying -- hang on youave got something very, very unique."
"Historically for the past five six years, the company has done a lot of work with the product in trials -- very successful trials in its application as an animal growth promoter. Thereas a lot of work going on in South Africa at the moment with Animate South Africa with whom weave partnered the product for that specific application. Its other application - potentially its one of the worldas biggest drugs because it has massive application for human obesity."
Stirling Products Limited started operations in early 2004.
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|Publication:||Feedinfo News Service|
|Date:||Dec 14, 2009|
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