About 25 in attendance
Overview -
- ip patent protected to 2036
- 50 plus tonnes a year
- Profit margin - substantially improved
- Animal efficiency improved 3,4,5 % in an industry where 1%
- Vital et revenue 1.5 million
Oxymorphone will be Into clinic trials in next 12 months
Diclofenac gel - selling a lot in India but low return. New markets have not come online yet, in fact only 5 have, so revenue only reflects 5. So 12 more to come and the China market as well. China high volume and higher price than India. Can’t take to USA. But discussions are occurring.
Mylan - 3 to 6 months. End of October.
We know all their arguments.
Decision is binding. Mylan can’t churn through appeals. Only can challenge on legal error. Arbitrator is a stickler so unlikely to be legal error.
License agreement continues, if mylan cancels we get rights back, indication of how much it could be worth. Figure of it making 15 million a month.
Shareholder return- large shareholders suggested this. Give back to shareholders.
Kept quoting 10, 20 40 % as being likely results.
Fund raising to push mylan and stop them from trying to make it more expensive. Can’t drag it out.
We have 1.5 million Underwritten.
Number of companies looking at animal health.
2 million milestone payments Terumo - through to middle of next year.
Stockbrokers waiting on cash raising
Consolidation has been considered
No longer with 3m but with a us group. Maybe an indication of value.
Animal health is quite big - a number of companies doing due diligence on technology. Several companies say cattle would complete trifecta. Companies are already trialling tpm to get own data.
Credit pharma - looking to do a number of deals. No manufacturer of TPM only we can. 10 year supply agreement from us.
Milestones
- propofol looking at full licence. Fairly soon. Can’t say exactly when. Aus ours. Japan theirs. Rest of world 50:50
- FDA efficacious product which will make entry to USA easier.
- Terumo looking at How does it perform on Japanese people!
If we were a brand new company we would be an attractive company to invest. Unfortunately history hurts us!
- 3 board members have been CEO
- If No money raised then placements
- Other options mechanisms
- All developments plans are designed around the USA and fda
- Endo had problems with opioid and abuse. An opportunity for us.
- Milestones Terumo - 2 mill milestones end of it phase 1 proof - then 5 million - 30 to 40 million dollars over life of product just for Japan. 3 to 4 years.
- Oxycod is more advanced it has phase 2 proof 3 to 4 years.
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