Financial Services Industry
Industry: Email Alert RSS FeedPhytopharm Begins Level-I Program
Global Finance, Oct 2004
Cambridge, UK-based Phytopharm, which develops plant-based medicines and manufactures them to pharmaceutical standards, established a Level-I ADR program with Bank of New York as depositary.
The Level-I program is the first step toward listing Phytopharm's securities on Nasdaq, according to the company, which has hired Global Markets Capital Group to manage the listing process.
Phytopharm CEO Richard Dixey says US investors are interested in the company's products for obesity, Alzheimer's disease and Lou Gehrig's disease.
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Each Phytopharm ADR represents two ordinary shares, which are traded on the London Stock Exchange.
Copyright Global Finance Media Inc. Oct 2004
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