Vernalis to raise £68.5m 10/02/2012
Drug discoverer Vernalis (VER) is to raise £68.5 million as part of a joint venture with US concern Tris Pharma.
Sutherland into the black
Sutherland Health Group has turned an annual £82,000 loss into first-ever profits of £39,340 and won a new National Health Service contract.
The PLUS-quoted condoms to patient hygiene concern, chaired by the ubiquitous John French, increased turnover 6 per cent to £956,510 in the year to March and followed that with a £217,000 placing in May at a lowly 2.5p. The new NHS contract is to supply nutritional supplement Thixo-D, an instant food and drink thickener used to manage Dysphagia, a condition impeding the ability to swallow which afflicts 30 to 40 per cent of old people staying in nursing homes.
With founder and significant shareholder George Sutherland as chief executive officer, the company says Thixo-D is available on prescription and over the counter. French suggests the new deal ‘enables us to broaden our sales into the nursing home sector as well as hospitals’.
Floated six years ago as Sexual Health Group at 16p, Sutherland shares have had a rough ride. They have risen from a year’s low of 2p to 2.75p and could rally further if the company continues to make progress.
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