AGM, page-16

@Hottin, the family didn’t score the USA contract. While we could demonstrate that we had a working lab and were in the business or producing white powders for the domestic market, unfortunately FDA approval was not forthcoming. A former director offered to cut through the red tape for a large fee but it was all too much in the end!

The best way to describe the whole Alusion saga is to compare it to a marriage on the rocks. Two years ago both parties had called in their lawyers. Sure, as the weaker partner, ANO stood the chance of perhaps getting a small amount of ongoing matrimonial maintenance. Two years on and both partners are working together to make it work. As part of the counselling process, ANO agreed to look at ways of producing Alusion cheaper. Merck agreed to look at ways of increasing Alusion sales to make it profitable for ANO.

While certain things remain confidential, one thing we do know is that ANO was not going to hang around putting out unless it was profitable to do so. We found out today that FY2018 will see an 80% increase on FY2017. FY2019 will bring a 38% increase in sales compared to FY2018.

Merck appear to be doing their best to keep their end of the bargain with increased sales. The AGM will hopefully reveal what ANO has committed to in an endeavour to make it work. I really thought this relationship was going to end in tears. Wrong again! Both parties are taking it one year at a time.