Following the latest announcement regarding the postponement of the launch of its fentanyl transdermal system in the US market, Lavipharm informs the public that it continues to seek agreement with its contract manufacturer on a final resolution of the deviations observed and the methodology for the completion of the validation process.
Lavipharm is examining all of its alternatives for expediting the launch of its product in the US market, but is not in a position to determine the exact date of launch, which will not in any case take place within December. At the same time, Lavipharm is evaluating its legal options concerning the above. The Company will immediately inform the investor community regarding any future developments.
This event obliges Lavipharm to review the recent forecasts on the expected consolidated key figures of 2007, which are modified as follows :
Consolidated Sales (2007) are modified from Euro 272 mil. to Euro 252 mil.
Consolidated EBITDA (2007) is modified from Euro 24 mil. to Euro 12 mil.
The remaining expected figures regarding years 2008-2010 will be reviewed later according to developments in the USA.
Lavipharm is an integrated Group that develops, manufactures, markets and distributes pharmaceutical, cosmetic and consumer health products in Greece with a strong international activity.