The Medical House delivers healthy profits

YORKSHIRE group The Medical House today said it was confident it would sign more contracts to supply its products and develop further innovations as it reported increased half year profits.

The Sheffield-based group, which specialises in needle-free injection kits, saw pre-tax profits increase from £319,000 to £585,000 for the six months ended June 30.

Operating profit increased by 76% to £604,000 on sales up 32% to £1.88m.

Chairman Ian Townsend said the group had more product launches in the pipeline and its second half trading was in line with expectations.

Mr Townsend said: “Interest in our technologies which cover delivery of a wide range of injectable drugs, continues to be strong, including for those drugs in dry formulations which require reconstitution prior to injection.

“We are confident that we will continue to sign further agreements.”

TMH said the launch of its cool.click2 needle-free injector system in the US by Merck Serono had driven sales and profit growth during the period, while its next autoinjector product, which is being developed for Dr Reddy’s Laboratories, is expected to be ready to go on the market within the coming six months

Cool.click2 is an advanced needle-free injector system which incorporates novel features, such as electronic dose measurement and display.

TMH did not give any update on the takeover approach it received earlier this year.