Any time now, page-147

I think there is probably little that can be said on TPM propofol at this stage other than it's in tox. studies.

In the update on the TPM propofol development program provided on 9 November last year it was stated that formulation and stability testing stages had been completed and toxicology studies were "intended to begin this year". Let's therefore assume that toxicology studies commenced by December.

In the CEO presentation provided on 14 May, an indicative timetable was provided for injectables development. It showed the toxicology phase would take approximately 12 months, but noted that reduced risk/new work would be required when completing this stage for further TPM injectable products. So I would expect there will be little to say on propofol for another 6 months.

To dispel any doubts about whether TPM propofol is being moved forward, it was stated by Ross Murdoch at the AGM that it wasn't a case of if this product was proceeding with Terumo; he stressed that it was proceeding with Terumo.