Financial Services Industry
Industry: Email Alert RSS FeedML LABS. (MLB).
Investors Chronicle, January, 2003
After consistently resisting the need to streamline its product portfolio, ML Laboratories has finally embarked on a disposals programme. In reality, it needs the funds to fend off a cash crisis. In June, it floated the Cobra manufacturing business on Aim, raising GBP2.87m (recorded as exceptional profit). Chairman Stuart Sim reckons he can get"several millions of pounds from the sale of ancillary activities". As likely candidates, he cited a healthcare education business (with annual revenues of GBP1.25m) and the manufacturing unit that makes icodextrin (annual revenues of GBP3m). Icodextrin is the key component in its renal dialysis product, Extraneal, so interest levels might be limited.
Already on sale across Europe, Extraneal gained US approval just...
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