BENTLEY PHARMACEUTICALS - hier wird bald richtig Geld verdient - 500 Beiträge pro Seite
eröffnet am 20.11.04 15:57:34 von
neuester Beitrag 24.01.05 18:57:01 von
neuester Beitrag 24.01.05 18:57:01 von
Beiträge: 18
ID: 927.937
ID: 927.937
Aufrufe heute: 1
Gesamt: 982
Gesamt: 982
Aktive User: 0
ISIN: US0826571079
Feedback
@all
Seit längerem steht der Name BENTLEY PHARMACEUTICALS - BNT- auf meiner Watchlist, in der sich abzeichnenden Trendwende habe ich das derzeitig äußerst reizvolle Kursniveau genutzt mir eine Startposition zu gönnen.
Um mal so im groben Rahmen rüberzubringen was es da mit dem Unternehmen so auf sich hat, ein paar Eckdaten anbei:
BENTLEY ist weitestgehend im Bereich GENERICA tätig.
Nach wie vor sind Genericahersteller jedoch etwas anders zu bewerten als herkömmliche Unternehmen aus dem Bereich Biotech und Pharma.
Schwarze Zahlen schreiben da wohl alle "Familienmitglieder", die einen mehr, die anderen halt weniger.
Bei den jüngst veröffentlichten Quartalszahlen gabs jedoch böse Überraschungen, vor allem bei den "Big Guns". Zumeist war es der negative Ausblick, der die Bestrafungen beim Kursniveau herausforderte.
Auch BNT konnte sich eines leicht fallenden Kurses nicht erwehren, sich aber doch den kollektiven Kursmißhandlungen weitestgehend dank der doch recht positiven Quartalszahlen entziehen.
Der wohl am höchsten einzustufende Vorteil gegenüber den Mitbewerbern dürfte jedoch der Ausblick sein, welcher wohl eine deutliche Sprache spricht.
So konnte BENTLEY mit dem Unternehmen PERRIGO-PRGO eine mehr als nur positiv zu bezeichnende Vereinbarung unterzeichnen, aus der hervorgeht das PERRIGO künftig Produkte von BNT vertreiben wird. Ganz nebenbei gesagt - PERRIGO ist unbestrittene NR.1 im Markt für nichtverschreibungspflichtige Medikamente !!
Daß BNT künftig ein weit größeres Stück des US- Genericamarktes als bisher angenommen beanspruchen wird ist daher klar, der Anteil von verschriebener Generica gegenüber Markenprodukten beträgt im US-Markt breits 44%. Tendenz steigend.
Bislang generierte man die erzielten Einkünfte vorwiegend im europäisch/spanischen Markt, hier hat der Marktanteil von Generica gerade mal die 4%-Marke erreicht. Die besten Jahre liegen da wohl noch vor uns...
Die Herstellung der von BNT - und künftig auch von Perrigo vertriebenen Produkte findet bei den drei Tochterunternehmen Laboratorios Belmac, Laboratorios Davur, sowie Laboratorios Rimafar statt.
Aktuell sind immer wieder Diskussionen registrierbar, welche eine in Spanien neu zu entrichtende Steuer auf Genericaprodukte zum Inhalt haben. Diese werden jedoch wohl keine so weitreichenden Auswirkungen auf die Gewinnsituation von BNT haben wie darzustellen versucht wird. Der massivste Hintergrund dürfte wohl darin liegen, daß hier noch einige Adressen mit größeren Stückzahlen einsteigen wollen, was bei den später noch angesprochenen Tagesumsätzen nicht ganz so schnell wie gewünscht ohne Preisaufschlag machbar ist.
Bei einem Peer-Group Vergleich mit den bekanntesten Unternehmen der Branche fällt insbesondere die markante Unterbewertung von BENTLEY auf. So ist gemessen an der derzeitigen Marktkapitalisierung TEVA mit dem 4-fachen des erzielten Umsatzes bewertet, ABLE LABS mit dem 3-fachen, ANDRX nach Kurskorrektur infolge Gewinnwarnung mit dem 1,3-fachen. Um in annähernd gleicher Unternehmensgröße zu bleiben, kann man CARACO mit ca. 177 Mio US-$ Marktkapitalisierung als Vergleichsgröße zu BENTLEY mit ca. 178 Mio. US$ heranziehen - wobei anzumerken ist, daß bei CARACO mit dem 2,75-fachen, bei BENTLEY hingegen nur mit dem 2,2 -fachen bewertet wird.
Ebenfalls interessant dürfte in diesem Zusammenhang noch sein, daß das Verhältnis Eigenkapital/Marktkapitalisierung bei BENTLEY mit 82,4/ 178,8 Mio. US$ gegenüber ABLE LABS 89,0/ 383 Mio. US$ doch deutlich gesünder aussieht. Auf gerade mal 16,7/ 176 Mio. US$ kommt hier noch CARACO. Zu TEVA liegen mir keine, zu ANDRX nur geschätzte Zahlen -die Eigenmittel- betreffend vor.
Wer sich also für eine - wie ich meine - äußerst interessante wie einträgliche Anlagemöglichkeit im Sektor Generica interessiert, sollte sich dieses Unternehmen mal genauer ansehen. Neben einer ja bereits angesprochenen Unterbewertung liegt hier die Möglichkeit einer deftigen Kurssteigerung allein schon wegen massiver Shorteindeckungen Richtung Jahresende hin zum Greifen nahe. Gemessen am derzeitigen Tagesumsatz würde die Zeitspanne alle Shorts zu covern beachtliche 60 TAGE !!! dauern.
Zur Darstellung der charttechnischen Situation der Ein-Jahres-Chart
Grüße, Bio
Seit längerem steht der Name BENTLEY PHARMACEUTICALS - BNT- auf meiner Watchlist, in der sich abzeichnenden Trendwende habe ich das derzeitig äußerst reizvolle Kursniveau genutzt mir eine Startposition zu gönnen.
Um mal so im groben Rahmen rüberzubringen was es da mit dem Unternehmen so auf sich hat, ein paar Eckdaten anbei:
BENTLEY ist weitestgehend im Bereich GENERICA tätig.
Nach wie vor sind Genericahersteller jedoch etwas anders zu bewerten als herkömmliche Unternehmen aus dem Bereich Biotech und Pharma.
Schwarze Zahlen schreiben da wohl alle "Familienmitglieder", die einen mehr, die anderen halt weniger.
Bei den jüngst veröffentlichten Quartalszahlen gabs jedoch böse Überraschungen, vor allem bei den "Big Guns". Zumeist war es der negative Ausblick, der die Bestrafungen beim Kursniveau herausforderte.
Auch BNT konnte sich eines leicht fallenden Kurses nicht erwehren, sich aber doch den kollektiven Kursmißhandlungen weitestgehend dank der doch recht positiven Quartalszahlen entziehen.
Der wohl am höchsten einzustufende Vorteil gegenüber den Mitbewerbern dürfte jedoch der Ausblick sein, welcher wohl eine deutliche Sprache spricht.
So konnte BENTLEY mit dem Unternehmen PERRIGO-PRGO eine mehr als nur positiv zu bezeichnende Vereinbarung unterzeichnen, aus der hervorgeht das PERRIGO künftig Produkte von BNT vertreiben wird. Ganz nebenbei gesagt - PERRIGO ist unbestrittene NR.1 im Markt für nichtverschreibungspflichtige Medikamente !!
Daß BNT künftig ein weit größeres Stück des US- Genericamarktes als bisher angenommen beanspruchen wird ist daher klar, der Anteil von verschriebener Generica gegenüber Markenprodukten beträgt im US-Markt breits 44%. Tendenz steigend.
Bislang generierte man die erzielten Einkünfte vorwiegend im europäisch/spanischen Markt, hier hat der Marktanteil von Generica gerade mal die 4%-Marke erreicht. Die besten Jahre liegen da wohl noch vor uns...
Die Herstellung der von BNT - und künftig auch von Perrigo vertriebenen Produkte findet bei den drei Tochterunternehmen Laboratorios Belmac, Laboratorios Davur, sowie Laboratorios Rimafar statt.
Aktuell sind immer wieder Diskussionen registrierbar, welche eine in Spanien neu zu entrichtende Steuer auf Genericaprodukte zum Inhalt haben. Diese werden jedoch wohl keine so weitreichenden Auswirkungen auf die Gewinnsituation von BNT haben wie darzustellen versucht wird. Der massivste Hintergrund dürfte wohl darin liegen, daß hier noch einige Adressen mit größeren Stückzahlen einsteigen wollen, was bei den später noch angesprochenen Tagesumsätzen nicht ganz so schnell wie gewünscht ohne Preisaufschlag machbar ist.
Bei einem Peer-Group Vergleich mit den bekanntesten Unternehmen der Branche fällt insbesondere die markante Unterbewertung von BENTLEY auf. So ist gemessen an der derzeitigen Marktkapitalisierung TEVA mit dem 4-fachen des erzielten Umsatzes bewertet, ABLE LABS mit dem 3-fachen, ANDRX nach Kurskorrektur infolge Gewinnwarnung mit dem 1,3-fachen. Um in annähernd gleicher Unternehmensgröße zu bleiben, kann man CARACO mit ca. 177 Mio US-$ Marktkapitalisierung als Vergleichsgröße zu BENTLEY mit ca. 178 Mio. US$ heranziehen - wobei anzumerken ist, daß bei CARACO mit dem 2,75-fachen, bei BENTLEY hingegen nur mit dem 2,2 -fachen bewertet wird.
Ebenfalls interessant dürfte in diesem Zusammenhang noch sein, daß das Verhältnis Eigenkapital/Marktkapitalisierung bei BENTLEY mit 82,4/ 178,8 Mio. US$ gegenüber ABLE LABS 89,0/ 383 Mio. US$ doch deutlich gesünder aussieht. Auf gerade mal 16,7/ 176 Mio. US$ kommt hier noch CARACO. Zu TEVA liegen mir keine, zu ANDRX nur geschätzte Zahlen -die Eigenmittel- betreffend vor.
Wer sich also für eine - wie ich meine - äußerst interessante wie einträgliche Anlagemöglichkeit im Sektor Generica interessiert, sollte sich dieses Unternehmen mal genauer ansehen. Neben einer ja bereits angesprochenen Unterbewertung liegt hier die Möglichkeit einer deftigen Kurssteigerung allein schon wegen massiver Shorteindeckungen Richtung Jahresende hin zum Greifen nahe. Gemessen am derzeitigen Tagesumsatz würde die Zeitspanne alle Shorts zu covern beachtliche 60 TAGE !!! dauern.
Zur Darstellung der charttechnischen Situation der Ein-Jahres-Chart
Grüße, Bio
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Reports Record Third Quarter Revenues of $18.1 Million and $0.06 Diluted Earnings Per Share
Wednesday November 3, 7:02 am ET
- Conference call and webcast to be held today at 10:00 A.M. (EST) -
EXETER, N.H., Nov. 3 /PRNewswire-FirstCall/ -- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceutical and drug delivery company with a growing branded and generic product line in Europe, today announced financial results for the third quarter and nine months ended September 30, 2004.
Total revenues for the 2004 third quarter increased 21.7% (12.4% at constant exchange rates) to $18.1 million from $14.9 million in the prior- year`s third quarter. Net product sales grew 19.1% (9.6% at constant exchange rates) to $17.3 million from $14.5 million in last year`s third quarter. Licensing and collaboration revenues more than doubled to $791,000 from $335,000 in the comparable quarter of the prior year.
In addition to the favorable impact of exchange rates, third quarter revenues reflected:
* continued volume growth in Spain, partially offsetting price reductions
announced last year;
* continued growth in pharmaceutical product sales outside of Spain;
* strong growth in contract manufacturing sales; and
* increased royalties from sales of Testim(R), the first marketed product
to incorporate Bentley`s CPE-215 drug delivery technology.
Sales outside of Spain continued to grow, rising to $2.1 million from $1.9 million in last year`s third quarter. The Company expects sales outside of Spain to be a major contributor to its growth in 2005 and beyond, driven by its license and supply agreements. The Company has 57 signed license agreements to sell its products outside of Spain currently awaiting regulatory approvals.
Third quarter operating income totaled $2.5 million compared to $2.8 million a year earlier, reflecting the impact of the price reductions in Spain announced last year and higher operating expenses that are necessary to develop the infrastructure to support the Company`s future growth. Net income for the 2004 third quarter improved to $1.4 million, or $0.06 per diluted share, compared to $1.3 million, or $0.06 per diluted share, in the year-ago period. Diluted shares outstanding increased 2.3% to 22.7 million.
James R. Murphy, President and CEO, stated, "Our revenues for the third quarter were primarily driven by the growth of our contract manufacturing sales and an increase in royalties from sales of Auxilium`s Testim. Our European pharmaceutical sales reflect continued market share gains both in Spain and throughout Europe. Year-over-year sales from our Spanish operations reflect strong volume growth, albeit at lower prices that went into effect late last year. Additionally, we were pleased to see that product returns in Spain have returned to levels consistent with our historical experience."
Revenues for the nine months ended September 30, 2004 grew 15.6% (5.0% at constant exchange rates) to $53.9 million from $46.6 million in the same period of the prior year. Operating income totaled $6.8 million compared to $8.8 million in the nine months ended September 30, 2003, reflecting the previously disclosed product price reductions, product returns from the 2004 first and second quarters and higher operating expenses in 2004. Net income for the 2004 nine month period totaled $3.7 million, or $0.16 per diluted share, compared to $4.4 million or $0.21 per diluted share in the comparable period of the prior year. Diluted shares outstanding increased 6.8% from the 2003 nine-month period to 22.8 million.
Mr. Murphy continued, "Our results demonstrate the strength and resilience of our business model. We are encouraged by the growth prospects of our pipeline and the continued growth in our sales outside of Spain, which we expect to become an increasingly significant driver of our pharmaceutical product sales, reflected by the number of products awaiting approval. Our success in expanding our pharmaceutical sales outside of Spain is further evidenced by our recent product approvals in the United Kingdom. We are also making good progress with the productivity enhancement initiatives implemented during the year and expect these enhancements to drive operational improvements in upcoming quarters. We will continue to focus on acquiring, developing and launching new products that will further enhance our product mix."
Michael D. Price, Vice President and Chief Financial Officer, commented, "We expect gross margins to continue to improve as we realize the benefits of our operating improvements, introduce new pharmaceutical products and benefit from economies of scale.
"We continue to have a strong balance sheet, with over $34 million in cash and short-term investments, and a healthy current ratio of approximately 2.7 to 1. Our total assets exceed $111 million, and with essentially no long-term debt, we are in an excellent position to invest in our growth as quality opportunities arise. We have invested almost $10 million in factory improvements and additions in the current year, increasing capacity to support our growth in 2005 and 2006. This investment will also provide us with a vertically-integrated active pharmaceutical ingredients (API) manufacturing facility that will result in improved gross margins in the future. We believe that our impressive and expanding product portfolio and our superior operating processes will drive continued sales growth both in and outside of Spain and will continue to enhance our productivity to enable us to garner added operating leverage."
Mr. Murphy concluded, "Our financial performance and attractive growth prospects position us well for the remainder of 2004 and beyond. As such, we reaffirm our full year 2004 expectations for revenues in the range of $70 million to $80 million."
Significant components of Bentley`s revenues for the three months ended September, 2004 and 2003 are as follows:
For the Three Months Ended September 30, 2004:
Sales Within Spain
Contract
Branded Generic Manu- Other % of Total
Product Line Products Products facturing Revenues Total Revenues
Omeprazole $742 $3,296 $ -- $ -- $4,038 22%
Simvastatin 374 929 -- -- 1,303 7%
Enalapril 725 348 -- -- 1,073 6%
Paroxetine 225 698 -- -- 923 5%
Pentoxifylline -- 668 -- -- 668 4%
All other
products 2,216 1,144 -- 809 4,169 23%
Contract
manufacturing -- -- 3,077 -- 3,077 17%
Sales outside of
Spain -- -- -- 2,061 2,061 12%
Licensing and
collaborations -- -- -- 791 791 4%
Total Revenues $4,282 $7,083 $3,077 $3,661 $18,103 100%
% of Total
Revenues 24% 39% 17% 20% 100%
For the Three Months Ended September 30, 2003:
Sales Within Spain
Contract
Branded Generic Manu- Other % of Total
Product Line Products Products facturing Revenues Total Revenues
Omeprazole $1,515 $3,238 $ -- $ -- $4,753 32%
Simvastatin 618 1,109 -- -- 1,727 12%
Enalapril 646 379 -- -- 1,025 7%
Paroxetine -- 135 -- -- 135 1%
Pentoxifylline -- 489 -- -- 489 3%
All other
products 1,672 941 -- -- 2,613 18%
Contract
manufacturing -- -- 1,856 -- 1,856 12%
Sales outside of
Spain -- -- -- 1,942 1,942 13%
Licensing and
collaborations -- -- -- 335 335 2%
Total Revenues $4,451 $6,291 $1,856 $2,277 $14,875 100%
% of Total
Revenues 30% 42% 13% 15% 100%
NOTICE OF CONFERENCE CALL
The Company will host a conference call to discuss these results, provide a business update and review the outlook for the remainder of 2004 today at 10:00 A.M. EST. To participate in the call, please dial (888) 459-8438 approximately 10 minutes prior to the scheduled start time and give the password "BENTLEY." International participants may dial (210) 839-8505; the password is the same. The conference will also be broadcast live on the Internet and may be accessed via the Company`s web site, http://www.bentleypharm.com.
A replay of the conference call will be available through December 3, 2004. Listeners may access the replay via the Company`s website, http://www.bentleypharm.com, or by dialing (866) 358-4515 from within the U.S. and Canada. A replay of the conference call from international locations may be accessed by dialing (203) 369-0131.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at http://www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements, including without limitation, statements regarding our anticipated 2004 revenues, our 2004 operating performance including gross margin and profit expectations, anticipated sources of future revenue, the prospects for growth of our business outside of Spain, expectations from factory improvements and expectations for launching new products. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with the timing and results of clinical trials, efficacy and safety of our products, the timing and nature of regulatory approvals, expanding generic and branded drug operations, changes in third- party reimbursement and government mandates which impact pharmaceutical pricing, development and commercialization of our products, competition from other manufacturers of generic and proprietary pharmaceuticals, intellectual property litigation, our relationships with our strategic partners, the unpredictability of patent protection, technological changes, the effects of economic conditions, risks associated with international operations, and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
BENTLEY PHARMACEUTICALS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(UNAUDITED)
(in thousands, except per share data)
For the Three Months For the Nine Months
Ended September 30, Ended September 30,
2004 2003 2004 2003
Revenues:
Net product sales $17,312 $14,540 $51,325 $45,371
Licensing and
collaboration revenues 791 335 2,550 1,246
Total revenues 18,103 14,875 53,875 46,617
Cost of net product sales 8,568 5,744 25,161 18,684
Gross profit 9,535 9,131 28,714 27,933
Operating expenses:
Selling and marketing 3,199 3,224 10,919 10,203
General and administrative 2,140 1,744 6,590 5,089
Research and development 1,230 966 3,171 2,863
Depreciation and
amortization 447 356 1,260 967
Total operating expenses 7,016 6,290 21,940 19,122
Income from operations 2,519 2,841 6,774 8,811
Other income (expenses):
Interest income 157 71 399 236
Interest expense (49) (60) (160) (174)
Other, net 130 9 1,405 5
Income before income taxes 2,757 2,861 8,418 8,878
Provision for income taxes 1,344 1,513 4,706 4,469
Net income $1,413 $1,348 $3,712 $4,409
Net income per common share:
Basic $0.07 $0.08 $0.18 $0.25
Diluted $0.06 $0.06 $0.16 $0.21
Weighted average common
shares outstanding:
Basic 21,049 17,911 20,764 17,635
Diluted 22,746 22,228 22,772 21,321
BENTLEY PHARMACEUTICALS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(in thousands, except per share data) September 30, December 31,
2004 2003
ASSETS
Current assets:
Cash and cash equivalents $33,763 $39,393
Marketable securities 476 1,252
Receivables, net 25,863 18,036
Inventories, net 9,013 7,106
Deferred taxes 210 213
Prepaid expenses and other 1,492 899
Total current assets 70,817 66,899
Non-current assets:
Fixed assets, net 25,053 18,566
Drug licenses and related costs, net 14,109 13,818
Restricted cash 1,000 1,000
Other 166 180
Total non-current assets 40,328 33,564
$111,145 $100,463
LIABILITIES AND STOCKHOLDERS` EQUITY
Current liabilities:
Accounts payable $13,303 $10,154
Accrued expenses 7,395 7,103
Short-term borrowings 1,950 1,915
Current portion of long-term debt -- 70
Deferred income 3,216 1,956
Total current liabilities 25,864 21,198
Non-current liabilities:
Deferred taxes 2,402 2,555
Long-term debt 369 369
Other 75 176
Total non-current liabilities 2,846 3,100
Commitments and contingencies
Stockholders` equity:
Preferred stock, $1.00 par value,
authorized 2,000 shares, issued and outstanding,
none -- --
Common stock, $.02 par value,
authorized 100,000 shares, issued and outstanding,
21,304 and 20,573 shares 426 412
Stock purchase warrants (to purchase zero and 420
shares of common stock) -- 333
Additional paid-in capital 140,370 136,850
Accumulated deficit (62,887) (66,599)
Accumulated other comprehensive income 4,526 5,169
Total stockholders` equity 82,435 76,165
$111,145 $100,463
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Reports Record Third Quarter Revenues of $18.1 Million and $0.06 Diluted Earnings Per Share
Wednesday November 3, 7:02 am ET
- Conference call and webcast to be held today at 10:00 A.M. (EST) -
EXETER, N.H., Nov. 3 /PRNewswire-FirstCall/ -- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceutical and drug delivery company with a growing branded and generic product line in Europe, today announced financial results for the third quarter and nine months ended September 30, 2004.
Total revenues for the 2004 third quarter increased 21.7% (12.4% at constant exchange rates) to $18.1 million from $14.9 million in the prior- year`s third quarter. Net product sales grew 19.1% (9.6% at constant exchange rates) to $17.3 million from $14.5 million in last year`s third quarter. Licensing and collaboration revenues more than doubled to $791,000 from $335,000 in the comparable quarter of the prior year.
In addition to the favorable impact of exchange rates, third quarter revenues reflected:
* continued volume growth in Spain, partially offsetting price reductions
announced last year;
* continued growth in pharmaceutical product sales outside of Spain;
* strong growth in contract manufacturing sales; and
* increased royalties from sales of Testim(R), the first marketed product
to incorporate Bentley`s CPE-215 drug delivery technology.
Sales outside of Spain continued to grow, rising to $2.1 million from $1.9 million in last year`s third quarter. The Company expects sales outside of Spain to be a major contributor to its growth in 2005 and beyond, driven by its license and supply agreements. The Company has 57 signed license agreements to sell its products outside of Spain currently awaiting regulatory approvals.
Third quarter operating income totaled $2.5 million compared to $2.8 million a year earlier, reflecting the impact of the price reductions in Spain announced last year and higher operating expenses that are necessary to develop the infrastructure to support the Company`s future growth. Net income for the 2004 third quarter improved to $1.4 million, or $0.06 per diluted share, compared to $1.3 million, or $0.06 per diluted share, in the year-ago period. Diluted shares outstanding increased 2.3% to 22.7 million.
James R. Murphy, President and CEO, stated, "Our revenues for the third quarter were primarily driven by the growth of our contract manufacturing sales and an increase in royalties from sales of Auxilium`s Testim. Our European pharmaceutical sales reflect continued market share gains both in Spain and throughout Europe. Year-over-year sales from our Spanish operations reflect strong volume growth, albeit at lower prices that went into effect late last year. Additionally, we were pleased to see that product returns in Spain have returned to levels consistent with our historical experience."
Revenues for the nine months ended September 30, 2004 grew 15.6% (5.0% at constant exchange rates) to $53.9 million from $46.6 million in the same period of the prior year. Operating income totaled $6.8 million compared to $8.8 million in the nine months ended September 30, 2003, reflecting the previously disclosed product price reductions, product returns from the 2004 first and second quarters and higher operating expenses in 2004. Net income for the 2004 nine month period totaled $3.7 million, or $0.16 per diluted share, compared to $4.4 million or $0.21 per diluted share in the comparable period of the prior year. Diluted shares outstanding increased 6.8% from the 2003 nine-month period to 22.8 million.
Mr. Murphy continued, "Our results demonstrate the strength and resilience of our business model. We are encouraged by the growth prospects of our pipeline and the continued growth in our sales outside of Spain, which we expect to become an increasingly significant driver of our pharmaceutical product sales, reflected by the number of products awaiting approval. Our success in expanding our pharmaceutical sales outside of Spain is further evidenced by our recent product approvals in the United Kingdom. We are also making good progress with the productivity enhancement initiatives implemented during the year and expect these enhancements to drive operational improvements in upcoming quarters. We will continue to focus on acquiring, developing and launching new products that will further enhance our product mix."
Michael D. Price, Vice President and Chief Financial Officer, commented, "We expect gross margins to continue to improve as we realize the benefits of our operating improvements, introduce new pharmaceutical products and benefit from economies of scale.
"We continue to have a strong balance sheet, with over $34 million in cash and short-term investments, and a healthy current ratio of approximately 2.7 to 1. Our total assets exceed $111 million, and with essentially no long-term debt, we are in an excellent position to invest in our growth as quality opportunities arise. We have invested almost $10 million in factory improvements and additions in the current year, increasing capacity to support our growth in 2005 and 2006. This investment will also provide us with a vertically-integrated active pharmaceutical ingredients (API) manufacturing facility that will result in improved gross margins in the future. We believe that our impressive and expanding product portfolio and our superior operating processes will drive continued sales growth both in and outside of Spain and will continue to enhance our productivity to enable us to garner added operating leverage."
Mr. Murphy concluded, "Our financial performance and attractive growth prospects position us well for the remainder of 2004 and beyond. As such, we reaffirm our full year 2004 expectations for revenues in the range of $70 million to $80 million."
Significant components of Bentley`s revenues for the three months ended September, 2004 and 2003 are as follows:
For the Three Months Ended September 30, 2004:
Sales Within Spain
Contract
Branded Generic Manu- Other % of Total
Product Line Products Products facturing Revenues Total Revenues
Omeprazole $742 $3,296 $ -- $ -- $4,038 22%
Simvastatin 374 929 -- -- 1,303 7%
Enalapril 725 348 -- -- 1,073 6%
Paroxetine 225 698 -- -- 923 5%
Pentoxifylline -- 668 -- -- 668 4%
All other
products 2,216 1,144 -- 809 4,169 23%
Contract
manufacturing -- -- 3,077 -- 3,077 17%
Sales outside of
Spain -- -- -- 2,061 2,061 12%
Licensing and
collaborations -- -- -- 791 791 4%
Total Revenues $4,282 $7,083 $3,077 $3,661 $18,103 100%
% of Total
Revenues 24% 39% 17% 20% 100%
For the Three Months Ended September 30, 2003:
Sales Within Spain
Contract
Branded Generic Manu- Other % of Total
Product Line Products Products facturing Revenues Total Revenues
Omeprazole $1,515 $3,238 $ -- $ -- $4,753 32%
Simvastatin 618 1,109 -- -- 1,727 12%
Enalapril 646 379 -- -- 1,025 7%
Paroxetine -- 135 -- -- 135 1%
Pentoxifylline -- 489 -- -- 489 3%
All other
products 1,672 941 -- -- 2,613 18%
Contract
manufacturing -- -- 1,856 -- 1,856 12%
Sales outside of
Spain -- -- -- 1,942 1,942 13%
Licensing and
collaborations -- -- -- 335 335 2%
Total Revenues $4,451 $6,291 $1,856 $2,277 $14,875 100%
% of Total
Revenues 30% 42% 13% 15% 100%
NOTICE OF CONFERENCE CALL
The Company will host a conference call to discuss these results, provide a business update and review the outlook for the remainder of 2004 today at 10:00 A.M. EST. To participate in the call, please dial (888) 459-8438 approximately 10 minutes prior to the scheduled start time and give the password "BENTLEY." International participants may dial (210) 839-8505; the password is the same. The conference will also be broadcast live on the Internet and may be accessed via the Company`s web site, http://www.bentleypharm.com.
A replay of the conference call will be available through December 3, 2004. Listeners may access the replay via the Company`s website, http://www.bentleypharm.com, or by dialing (866) 358-4515 from within the U.S. and Canada. A replay of the conference call from international locations may be accessed by dialing (203) 369-0131.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at http://www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements, including without limitation, statements regarding our anticipated 2004 revenues, our 2004 operating performance including gross margin and profit expectations, anticipated sources of future revenue, the prospects for growth of our business outside of Spain, expectations from factory improvements and expectations for launching new products. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with the timing and results of clinical trials, efficacy and safety of our products, the timing and nature of regulatory approvals, expanding generic and branded drug operations, changes in third- party reimbursement and government mandates which impact pharmaceutical pricing, development and commercialization of our products, competition from other manufacturers of generic and proprietary pharmaceuticals, intellectual property litigation, our relationships with our strategic partners, the unpredictability of patent protection, technological changes, the effects of economic conditions, risks associated with international operations, and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
BENTLEY PHARMACEUTICALS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(UNAUDITED)
(in thousands, except per share data)
For the Three Months For the Nine Months
Ended September 30, Ended September 30,
2004 2003 2004 2003
Revenues:
Net product sales $17,312 $14,540 $51,325 $45,371
Licensing and
collaboration revenues 791 335 2,550 1,246
Total revenues 18,103 14,875 53,875 46,617
Cost of net product sales 8,568 5,744 25,161 18,684
Gross profit 9,535 9,131 28,714 27,933
Operating expenses:
Selling and marketing 3,199 3,224 10,919 10,203
General and administrative 2,140 1,744 6,590 5,089
Research and development 1,230 966 3,171 2,863
Depreciation and
amortization 447 356 1,260 967
Total operating expenses 7,016 6,290 21,940 19,122
Income from operations 2,519 2,841 6,774 8,811
Other income (expenses):
Interest income 157 71 399 236
Interest expense (49) (60) (160) (174)
Other, net 130 9 1,405 5
Income before income taxes 2,757 2,861 8,418 8,878
Provision for income taxes 1,344 1,513 4,706 4,469
Net income $1,413 $1,348 $3,712 $4,409
Net income per common share:
Basic $0.07 $0.08 $0.18 $0.25
Diluted $0.06 $0.06 $0.16 $0.21
Weighted average common
shares outstanding:
Basic 21,049 17,911 20,764 17,635
Diluted 22,746 22,228 22,772 21,321
BENTLEY PHARMACEUTICALS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(in thousands, except per share data) September 30, December 31,
2004 2003
ASSETS
Current assets:
Cash and cash equivalents $33,763 $39,393
Marketable securities 476 1,252
Receivables, net 25,863 18,036
Inventories, net 9,013 7,106
Deferred taxes 210 213
Prepaid expenses and other 1,492 899
Total current assets 70,817 66,899
Non-current assets:
Fixed assets, net 25,053 18,566
Drug licenses and related costs, net 14,109 13,818
Restricted cash 1,000 1,000
Other 166 180
Total non-current assets 40,328 33,564
$111,145 $100,463
LIABILITIES AND STOCKHOLDERS` EQUITY
Current liabilities:
Accounts payable $13,303 $10,154
Accrued expenses 7,395 7,103
Short-term borrowings 1,950 1,915
Current portion of long-term debt -- 70
Deferred income 3,216 1,956
Total current liabilities 25,864 21,198
Non-current liabilities:
Deferred taxes 2,402 2,555
Long-term debt 369 369
Other 75 176
Total non-current liabilities 2,846 3,100
Commitments and contingencies
Stockholders` equity:
Preferred stock, $1.00 par value,
authorized 2,000 shares, issued and outstanding,
none -- --
Common stock, $.02 par value,
authorized 100,000 shares, issued and outstanding,
21,304 and 20,573 shares 426 412
Stock purchase warrants (to purchase zero and 420
shares of common stock) -- 333
Additional paid-in capital 140,370 136,850
Accumulated deficit (62,887) (66,599)
Accumulated other comprehensive income 4,526 5,169
Total stockholders` equity 82,435 76,165
$111,145 $100,463
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
@all
nachträglich noch die angesprochene Perrigo-Veinbarung:
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals and Perrigo Company Announce Multi-Product Collaboration
Wednesday November 3, 9:50 am ET
EXETER, N.H. and Allegan, Mich., Nov. 3 /PRNewswire-FirstCall/ -- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceuticals and drug delivery company, and Perrigo Company (Nasdaq: PRGO - News), the nation`s largest manufacturer of over-the-counter (OTC) pharmaceutical and nutritional products for the store brand market, announced today that they have entered into a product development, license and manufacturing agreement. Perrigo has agreed to co-develop, market and sell in the U.S., and potentially other markets, selected products produced by Bentley`s active pharmaceutical ingredients (API) manufacturing facility and finished dosage forms produced by Bentley`s manufacturing subsidiary, Laboratorios Belmac.
ADVERTISEMENT
Under the agreement, Abbreviated New Drug Applications (ANDAs) for the co-developed products will be submitted by Perrigo to the U.S. Food and Drug Administration (FDA). The two companies have identified certain prescription drugs for co-development and commercialization that are no longer under patent protection or are soon to lose patent protection in the U.S. The specific products have not been disclosed for competitive reasons.
James R. Murphy, Bentley`s Chairman and CEO, commented, "Moving into the U.S. market is a key step in our growth strategy that will position us in the largest pharmaceutical market in the world, while maximizing production and sales from our manufacturing facilities in Spain. Worldwide annual sales of each branded drug selected by Perrigo and Bentley are in the multi-billion dollar range according to IMS data. Perrigo, which announced its intentions in late 2003 to expand into the generic prescription marketplace, is the national leader in the supply of OTC pharmaceuticals to retail drug, food and mass merchandise chains under their own labels in the U.S., and we are delighted to have partnered with such a well established and respected company."
Mark P. Olesnavage, Executive Vice President and General Manager, Perrigo Pharmaceuticals, stated, "Perrigo is pleased with the opportunity to partner with Bentley and build upon the strengths of both companies in manufacturing, packaging and marketing. We anticipate Bentley`s vertical integration with their API manufacturing will provide us with a competitive cost position and bring us significant drugs for the generic prescription market. We believe these drugs could also provide a strong position in the future for Perrigo`s OTC business as well."
About Bentley
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infections and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and produces active pharmaceutical ingredients through its subsidiary, Bentley API. Additional information may be obtained through Bentley`s web site at http://www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements, including without limitation, statements regarding Bentley`s planned development and distribution of generic prescription pharmaceuticals in the U.S. and the prospects for the size of the market for that business. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with expanding generic and branded drug operations, development and commercialization of our products, the effects of economic conditions, risks associated with international operations, competition from other manufacturers of generic and proprietary pharmaceuticals and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
About Perrigo
Perrigo Company is the nation`s largest manufacturer of over-the-counter (non-prescription) pharmaceuticals and nutritional products sold by supermarket, drug, and mass merchandise chains under their own labels. The Company`s products include over-the-counter pharmaceuticals such as analgesics, cough and cold remedies, gastrointestinal, and feminine hygiene products, nutritional products, such as vitamins, nutritional supplements and nutritional drinks. Visit Perrigo on the Internet (http://www.perrigo.com).
nachträglich noch die angesprochene Perrigo-Veinbarung:
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals and Perrigo Company Announce Multi-Product Collaboration
Wednesday November 3, 9:50 am ET
EXETER, N.H. and Allegan, Mich., Nov. 3 /PRNewswire-FirstCall/ -- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceuticals and drug delivery company, and Perrigo Company (Nasdaq: PRGO - News), the nation`s largest manufacturer of over-the-counter (OTC) pharmaceutical and nutritional products for the store brand market, announced today that they have entered into a product development, license and manufacturing agreement. Perrigo has agreed to co-develop, market and sell in the U.S., and potentially other markets, selected products produced by Bentley`s active pharmaceutical ingredients (API) manufacturing facility and finished dosage forms produced by Bentley`s manufacturing subsidiary, Laboratorios Belmac.
ADVERTISEMENT
Under the agreement, Abbreviated New Drug Applications (ANDAs) for the co-developed products will be submitted by Perrigo to the U.S. Food and Drug Administration (FDA). The two companies have identified certain prescription drugs for co-development and commercialization that are no longer under patent protection or are soon to lose patent protection in the U.S. The specific products have not been disclosed for competitive reasons.
James R. Murphy, Bentley`s Chairman and CEO, commented, "Moving into the U.S. market is a key step in our growth strategy that will position us in the largest pharmaceutical market in the world, while maximizing production and sales from our manufacturing facilities in Spain. Worldwide annual sales of each branded drug selected by Perrigo and Bentley are in the multi-billion dollar range according to IMS data. Perrigo, which announced its intentions in late 2003 to expand into the generic prescription marketplace, is the national leader in the supply of OTC pharmaceuticals to retail drug, food and mass merchandise chains under their own labels in the U.S., and we are delighted to have partnered with such a well established and respected company."
Mark P. Olesnavage, Executive Vice President and General Manager, Perrigo Pharmaceuticals, stated, "Perrigo is pleased with the opportunity to partner with Bentley and build upon the strengths of both companies in manufacturing, packaging and marketing. We anticipate Bentley`s vertical integration with their API manufacturing will provide us with a competitive cost position and bring us significant drugs for the generic prescription market. We believe these drugs could also provide a strong position in the future for Perrigo`s OTC business as well."
About Bentley
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infections and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and produces active pharmaceutical ingredients through its subsidiary, Bentley API. Additional information may be obtained through Bentley`s web site at http://www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements, including without limitation, statements regarding Bentley`s planned development and distribution of generic prescription pharmaceuticals in the U.S. and the prospects for the size of the market for that business. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with expanding generic and branded drug operations, development and commercialization of our products, the effects of economic conditions, risks associated with international operations, competition from other manufacturers of generic and proprietary pharmaceuticals and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
About Perrigo
Perrigo Company is the nation`s largest manufacturer of over-the-counter (non-prescription) pharmaceuticals and nutritional products sold by supermarket, drug, and mass merchandise chains under their own labels. The Company`s products include over-the-counter pharmaceuticals such as analgesics, cough and cold remedies, gastrointestinal, and feminine hygiene products, nutritional products, such as vitamins, nutritional supplements and nutritional drinks. Visit Perrigo on the Internet (http://www.perrigo.com).
@all
...ist zwar schon nicht mehr ganz neu, aber trotzdem nicht uninteressant..
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Named One Of Fortune`s 100 Fastest-Growing Companies
Thursday September 2, 9:05 am ET
EXETER, N.H., Sept. 2 /PRNewswire-FirstCall/ -- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceutical and drug delivery company with a growing branded and generic product line in Europe, today announced that it has been selected by FORTUNE magazine as one of the 100 Fastest-Growing Companies in the United States.
ADVERTISEMENT
Bentley was ranked 38 out of 100 companies, and is the only New Hampshire based company to make this year`s list. Compiling the list, FORTUNE asked Zacks Investment Research to find U.S. companies with a minimum market cap of $50 million, at least $50 million in revenues over the past four quarters, and at least 20% annual growth in sales and earnings over the past three years. FORTUNE then factored in total stock market returns to come up with the final list.
James R. Murphy, President, Chairman and CEO of Bentley Pharmaceuticals, stated, "Inclusion on FORTUNE`s prestigious list of 100 Fastest-Growing Companies is an important acknowledgement of the successful management strategy we have followed to maximize our Company`s potential and provide long- term value to our shareholders. Over the past three years, our earnings- per-share grew 46%, revenue grew 51% and our total return grew 32%, which exceeded the comparable S&P 500 return. We are pleased be grouped with such an exclusive list of top-tier businesses."
Editors please note: The complete list and state-by-state database of the companies, appears in the September 6 issue of FORTUNE, available on newsstands August 30 and at http://www.fortune.com on August 23.
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and sells active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at http://www.bentleypharm.com.
...ist zwar schon nicht mehr ganz neu, aber trotzdem nicht uninteressant..
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Named One Of Fortune`s 100 Fastest-Growing Companies
Thursday September 2, 9:05 am ET
EXETER, N.H., Sept. 2 /PRNewswire-FirstCall/ -- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceutical and drug delivery company with a growing branded and generic product line in Europe, today announced that it has been selected by FORTUNE magazine as one of the 100 Fastest-Growing Companies in the United States.
ADVERTISEMENT
Bentley was ranked 38 out of 100 companies, and is the only New Hampshire based company to make this year`s list. Compiling the list, FORTUNE asked Zacks Investment Research to find U.S. companies with a minimum market cap of $50 million, at least $50 million in revenues over the past four quarters, and at least 20% annual growth in sales and earnings over the past three years. FORTUNE then factored in total stock market returns to come up with the final list.
James R. Murphy, President, Chairman and CEO of Bentley Pharmaceuticals, stated, "Inclusion on FORTUNE`s prestigious list of 100 Fastest-Growing Companies is an important acknowledgement of the successful management strategy we have followed to maximize our Company`s potential and provide long- term value to our shareholders. Over the past three years, our earnings- per-share grew 46%, revenue grew 51% and our total return grew 32%, which exceeded the comparable S&P 500 return. We are pleased be grouped with such an exclusive list of top-tier businesses."
Editors please note: The complete list and state-by-state database of the companies, appears in the September 6 issue of FORTUNE, available on newsstands August 30 and at http://www.fortune.com on August 23.
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and sells active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at http://www.bentleypharm.com.
@all
SHORT INTEREST per 15.11.04
Bentley Pharmaceuticals, Inc. NYSE
Nov. 15, 2004 1,407,108 81,105 17.35
Oct. 15, 2004 1,642,849 26,405 62.22
Sep. 15, 2004 1,639,305 51,100 32.08
Aug. 13, 2004 1,918,146 56,167 34.15
Jul. 15, 2004 1,885,063 76,105 24.77
Grüße, Bio
SHORT INTEREST per 15.11.04
Bentley Pharmaceuticals, Inc. NYSE
Nov. 15, 2004 1,407,108 81,105 17.35
Oct. 15, 2004 1,642,849 26,405 62.22
Sep. 15, 2004 1,639,305 51,100 32.08
Aug. 13, 2004 1,918,146 56,167 34.15
Jul. 15, 2004 1,885,063 76,105 24.77
Grüße, Bio
Trading Spotlight
@all
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Reports Successful Results of Its First Phase II Intranasal Insulin Study in Diabetic Patients
Thursday December 9, 9:28 am ET
EXETER, N.H.--(BUSINESS WIRE)--Dec. 9, 2004--Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceutical and drug delivery company with a growing branded and generic product line in Europe, announced today that it has successfully delivered insulin in Type I diabetic patients utilizing its CPE-215 nasal spray formulation in its first Phase II study. This study is the second intranasal insulin study conducted by a clinical research organization in a hospital-based clinical pharmacology unit in Ireland in compliance with U.S. and European clinical standards.
ADVERTISEMENT
This study was the first study conducted in a target population of diabetic patients and was exploratory in nature to determine absorption of insulin and timing of dosing. Seven diabetic patients received up to four doses of intranasal insulin spray, subcutaneous insulin or placebo. The total dose of intranasal insulin spray ranged from 25 to 100 International Units. Preliminary results indicate that the intranasal insulin was well absorbed and that there was partial suppression of the postprandial glucose elevation in the two hours after a standard breakfast, similar to that seen with subcutaneous insulin.
James R. Murphy, Bentley`s Chairman and CEO, commented, "These preliminary results are very encouraging. After full analysis of all data, we plan to design further studies in patients to better define the entire profile of our formulation. In addition, we are currently preparing to seek a development partner as we progress further into Phase II and then Phase III development. Scientists have known for years that the intranasal route of administration of therapeutic agents was a highly efficient route, but success in this route of administration has been difficult due to low delivery payload, poor reproducibility and/or mucosal irritation. We are particularly encouraged by these results because they reinforce the potential for the intranasal delivery of other peptides as well."
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and markets active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements, including without limitation, statements regarding the intranasal delivery of insulin using Bentley`s proprietary technologies and Bentley`s plan to seek a partner for the future clinical development of its intranasal insulin formulations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with the timing and results of clinical trials, efficacy and safety of our products, the timing and nature of regulatory approvals, changes in third-party reimbursement and government mandates which impact pharmaceutical pricing, development and commercialization of our products, competition from other manufacturers of proprietary pharmaceuticals, intellectual property litigation, our relationships with our strategic partners, the unpredictability of patent protection, technological changes, the effects of economic conditions and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
--------------------------------------------------------------------------------
Contact:
Bentley Pharmaceuticals, Inc.
Michael D. Price, 603-658-6100
www.bentleypharm.com
or
Investor Relations Contacts:
Porter, Le Vay & Rose, Inc.
Linda Decker, V.P. - Investor Relations
Jeff Myhre, V.P. - Editorial
212-564-4700
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Reports Successful Results of Its First Phase II Intranasal Insulin Study in Diabetic Patients
Thursday December 9, 9:28 am ET
EXETER, N.H.--(BUSINESS WIRE)--Dec. 9, 2004--Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a technology-based specialty pharmaceutical and drug delivery company with a growing branded and generic product line in Europe, announced today that it has successfully delivered insulin in Type I diabetic patients utilizing its CPE-215 nasal spray formulation in its first Phase II study. This study is the second intranasal insulin study conducted by a clinical research organization in a hospital-based clinical pharmacology unit in Ireland in compliance with U.S. and European clinical standards.
ADVERTISEMENT
This study was the first study conducted in a target population of diabetic patients and was exploratory in nature to determine absorption of insulin and timing of dosing. Seven diabetic patients received up to four doses of intranasal insulin spray, subcutaneous insulin or placebo. The total dose of intranasal insulin spray ranged from 25 to 100 International Units. Preliminary results indicate that the intranasal insulin was well absorbed and that there was partial suppression of the postprandial glucose elevation in the two hours after a standard breakfast, similar to that seen with subcutaneous insulin.
James R. Murphy, Bentley`s Chairman and CEO, commented, "These preliminary results are very encouraging. After full analysis of all data, we plan to design further studies in patients to better define the entire profile of our formulation. In addition, we are currently preparing to seek a development partner as we progress further into Phase II and then Phase III development. Scientists have known for years that the intranasal route of administration of therapeutic agents was a highly efficient route, but success in this route of administration has been difficult due to low delivery payload, poor reproducibility and/or mucosal irritation. We are particularly encouraged by these results because they reinforce the potential for the intranasal delivery of other peptides as well."
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and markets active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements, including without limitation, statements regarding the intranasal delivery of insulin using Bentley`s proprietary technologies and Bentley`s plan to seek a partner for the future clinical development of its intranasal insulin formulations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with the timing and results of clinical trials, efficacy and safety of our products, the timing and nature of regulatory approvals, changes in third-party reimbursement and government mandates which impact pharmaceutical pricing, development and commercialization of our products, competition from other manufacturers of proprietary pharmaceuticals, intellectual property litigation, our relationships with our strategic partners, the unpredictability of patent protection, technological changes, the effects of economic conditions and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
--------------------------------------------------------------------------------
Contact:
Bentley Pharmaceuticals, Inc.
Michael D. Price, 603-658-6100
www.bentleypharm.com
or
Investor Relations Contacts:
Porter, Le Vay & Rose, Inc.
Linda Decker, V.P. - Investor Relations
Jeff Myhre, V.P. - Editorial
212-564-4700
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
@all
....die Chefetage kauft sich ihre Weihnachtsgeschenke schon mal selbst.
Ich bin felsenfest davon überzeugt daß sie sehr wohl wissen warum..
dazu auch www.form4oracle.com/company?cik=0000821616&ticker=bnt
....die Chefetage kauft sich ihre Weihnachtsgeschenke schon mal selbst.
Ich bin felsenfest davon überzeugt daß sie sehr wohl wissen warum..
dazu auch www.form4oracle.com/company?cik=0000821616&ticker=bnt
hier News von heute, weiss nicht, ob das schon bekannt war:
http://www.inpharma.com/news/news-NG.asp?n=56741-intranasal-…
Intranasal delivery of insulin shows promise
13/12/2004 - Bentley Pharmaceuticals has successfully delivered insulin to type 1 diabetics using its novel intranasal formulation, throwing its hat into the ring of companies seeking to replace insulin injections with more patient-friendly options.
The specialty pharmaceutical and drug delivery company, which has a growing branded and generic product line in Europe, reported the results of a Phase II trial of the formulation, called CPE-215, at the end of last week.
This study was the first intranasal insulin trial conducted in a target population of diabetic patients and was intended to assess absorption of insulin and timing of dosing.
Seven diabetic patients received up to four doses of intranasal insulin spray, subcutaneous insulin or placebo. The total dose of intranasal insulin spray ranged from 25 to 100 International Units. Preliminary results indicate that the intranasal insulin was well absorbed and that there was partial suppression of the postprandial glucose elevation in the two hours after a standard breakfast, similar to that seen with subcutaneous insulin.
Pharmaceutical companies are queuing up to deliver an alternative to injections for insulin, with inhaled, intranasal and oral alternatives already in the clinic.
And with the number of patients with diabetes currently estimated at about 25 million in Europe alone - and escalating every year - the rewards for a company that can come up with a safe alternative to injections look assured. Analysts have predicted that the first inhaled insulin product to reach the market could achieve sales upwards of $1.5 billion a year.
Bentley is a little behind the game with its intranasal version, as inhaled products are already in late-stage clinic and one, Pfizer and Sanofi-Aventis’ Exubera, is already under regulatory review. However, fear of side effects seen with inhaled products – the result of lung function testing in animals – could limit the use of these products and leave room for other delivery approaches.
James Murphy, Bentley`s chairman and CEO, said: "These preliminary results are very encouraging. After full analysis of all data, we plan to design further studies in patients to better define the entire profile of our formulation.”
He added that the company is seeking a development partner as it progresses further into Phase II and then Phase III development.
Scientists have known for years that the intranasal route of administration of therapeutic agents was a highly efficient route, but success in this route of administration has been difficult due to low delivery payload, poor reproducibility and/or mucosal irritation.
“We are particularly encouraged by these results because they reinforce the potential for the intranasal delivery of other peptides as well," said Murphy.
http://www.inpharma.com/news/news-NG.asp?n=56741-intranasal-…
Intranasal delivery of insulin shows promise
13/12/2004 - Bentley Pharmaceuticals has successfully delivered insulin to type 1 diabetics using its novel intranasal formulation, throwing its hat into the ring of companies seeking to replace insulin injections with more patient-friendly options.
The specialty pharmaceutical and drug delivery company, which has a growing branded and generic product line in Europe, reported the results of a Phase II trial of the formulation, called CPE-215, at the end of last week.
This study was the first intranasal insulin trial conducted in a target population of diabetic patients and was intended to assess absorption of insulin and timing of dosing.
Seven diabetic patients received up to four doses of intranasal insulin spray, subcutaneous insulin or placebo. The total dose of intranasal insulin spray ranged from 25 to 100 International Units. Preliminary results indicate that the intranasal insulin was well absorbed and that there was partial suppression of the postprandial glucose elevation in the two hours after a standard breakfast, similar to that seen with subcutaneous insulin.
Pharmaceutical companies are queuing up to deliver an alternative to injections for insulin, with inhaled, intranasal and oral alternatives already in the clinic.
And with the number of patients with diabetes currently estimated at about 25 million in Europe alone - and escalating every year - the rewards for a company that can come up with a safe alternative to injections look assured. Analysts have predicted that the first inhaled insulin product to reach the market could achieve sales upwards of $1.5 billion a year.
Bentley is a little behind the game with its intranasal version, as inhaled products are already in late-stage clinic and one, Pfizer and Sanofi-Aventis’ Exubera, is already under regulatory review. However, fear of side effects seen with inhaled products – the result of lung function testing in animals – could limit the use of these products and leave room for other delivery approaches.
James Murphy, Bentley`s chairman and CEO, said: "These preliminary results are very encouraging. After full analysis of all data, we plan to design further studies in patients to better define the entire profile of our formulation.”
He added that the company is seeking a development partner as it progresses further into Phase II and then Phase III development.
Scientists have known for years that the intranasal route of administration of therapeutic agents was a highly efficient route, but success in this route of administration has been difficult due to low delivery payload, poor reproducibility and/or mucosal irritation.
“We are particularly encouraged by these results because they reinforce the potential for the intranasal delivery of other peptides as well," said Murphy.
Hallo Frührentner,
freut mich dich hier bei Bentley begrüßen zu dürfen. Ich befürchtete schon daß der Thread an Vereinsamung stirbt..
Grüße, Bio
freut mich dich hier bei Bentley begrüßen zu dürfen. Ich befürchtete schon daß der Thread an Vereinsamung stirbt..
Grüße, Bio
keine Angst bioperformer. Bin auch dabei und freue mich auf Geschenke
@all
.....endlich wieder zweistellig !!!
Bleibt abzuwarten, ob die 10 hält. Wenn ja dürften bei der derzeit positiven Nachrichtenlage bald größere Anschlußkäufe folgen.
Grüße, Bio
.....endlich wieder zweistellig !!!
Bleibt abzuwarten, ob die 10 hält. Wenn ja dürften bei der derzeit positiven Nachrichtenlage bald größere Anschlußkäufe folgen.
Grüße, Bio
@bio
Die 10 hat gehalten, sieht alles sehr positiv aus.
Ähnlich wie bei Xoma, mal sehen obs heute weiter nach oben geht, nach dem gestrigen kleinen Rücksetzer!?
Die 10 hat gehalten, sieht alles sehr positiv aus.
Ähnlich wie bei Xoma, mal sehen obs heute weiter nach oben geht, nach dem gestrigen kleinen Rücksetzer!?
@all
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Comments on Spain`s Plan to Suspend the Current Reference-Price System and Support Generic Substitution
Monday December 20, 10:31 am ET
New Regulations Should Accelerate Product Pricing and Launches; Government Seeks to Triple Use of Generics
EXETER, N.H.--(BUSINESS WIRE)--Dec. 20, 2004-- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a specialty pharmaceutical company focused on advanced drug delivery technologies, which also manufactures and markets a growing branded and generic product line in Europe, announced today that it expects to benefit from a strategic plan recently unveiled by Spain`s health minister to provisionally suspend the current reference-price system and encourage greater use of generic drugs in the country`s socialized healthcare system.
ADVERTISEMENT
The announced 67-point plan is expected to take effect in early 2005 and replace the current reference- price system implemented by the Spanish government in late 2003, which reduced Bentley`s 2004 revenue growth by more than 20%. The new plan is expected to introduce a 4% price reduction in 2005 (and an additional 2% reduction in 2006) on only those drugs that have been on the market in Spain for over one year and were not already subject to the previous reference-price reductions for 2004. Consequently, the price reductions are expected to reduce Bentley`s 2005 revenues by an estimated $200,000 to $400,000, subject to final pricing decisions by the Spanish Ministry of Health.
Under the proposed system, if a marketer of generic products submits a price request that is at least 30% below the product`s reference price, approval is expected to be automatic, which should also accelerate the launch of new generic products. The government is also expected to conduct educational campaigns about generics, targeting both healthcare professionals and consumers, in efforts to promote generic competition. The Spanish government seeks to gradually increase the percentage of prescriptions filled by generic drugs -- one of Bentley subsidiaries` core competencies -- from the current rate of approximately 6% to a target of 20%.
James R. Murphy, Bentley`s Chairman and CEO, said, "The proposed plan would accelerate the regulatory approval process used to get generic drugs into the hands of patients in Spain, reduce the rate of governmental healthcare spending, and increase the demand for our generic products. We are hopeful that this new plan will alleviate some of the pressure the previous system placed on us as a result of its multi-level initiatives. We expect that the benefits of the proposed plan will far outweigh the projected $200,000 to $400,000 reduction in 2005 revenues.
Murphy continued, "Historically, the regulatory process in Spain has been lengthy and has resulted in the accumulation of an extensive pipeline of products pending approval. We are hopeful that this new plan will contribute to the government`s ambitious goal of issuing regulatory approvals within a period of four to seven months after submission, permitting us to introduce even more products in the year 2005.
"Although the proposed system would not eliminate price controls, we anticipate that our gross margins would continue to gradually increase as we further develop and implement our growth strategy of expansion throughout geographical Europe and into the US and benefit from manufacturing efficiencies and economies of scale," concluded Murphy.
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and markets active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements, including without limitation, statements regarding the ability of Bentley`s subsidiaries to capitalize on increased generic competition, receive accelerated pricing approvals, and accelerate product launches as a result of the Spanish government`s proposed plan and the ability of its subsidiaries to achieve economies of scale through growth of their businesses. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with implementation of the new plan by the Spanish government, the timing and nature of regulatory approvals, expanding generic operations, further changes in third-party reimbursement and government mandates which impact pharmaceutical pricing, competition from other manufacturers of generic and proprietary pharmaceuticals, the effects of economic conditions, risks associated with international operations, and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
--------------------------------------------------------------------------------
Contact:
Company Contact:
Bentley Pharmaceuticals, Inc.
Michael D. Price
Vice President, Chief Financial Officer
603-658-6100
www.bentleypharm.com
or
Investor Relations Contacts:
Porter, Le Vay & Rose, Inc.
Linda Decker, V.P. - Investor Relations
Jeff Myhre, V.P. - Editorial
212-564-4700
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Comments on Spain`s Plan to Suspend the Current Reference-Price System and Support Generic Substitution
Monday December 20, 10:31 am ET
New Regulations Should Accelerate Product Pricing and Launches; Government Seeks to Triple Use of Generics
EXETER, N.H.--(BUSINESS WIRE)--Dec. 20, 2004-- Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a specialty pharmaceutical company focused on advanced drug delivery technologies, which also manufactures and markets a growing branded and generic product line in Europe, announced today that it expects to benefit from a strategic plan recently unveiled by Spain`s health minister to provisionally suspend the current reference-price system and encourage greater use of generic drugs in the country`s socialized healthcare system.
ADVERTISEMENT
The announced 67-point plan is expected to take effect in early 2005 and replace the current reference- price system implemented by the Spanish government in late 2003, which reduced Bentley`s 2004 revenue growth by more than 20%. The new plan is expected to introduce a 4% price reduction in 2005 (and an additional 2% reduction in 2006) on only those drugs that have been on the market in Spain for over one year and were not already subject to the previous reference-price reductions for 2004. Consequently, the price reductions are expected to reduce Bentley`s 2005 revenues by an estimated $200,000 to $400,000, subject to final pricing decisions by the Spanish Ministry of Health.
Under the proposed system, if a marketer of generic products submits a price request that is at least 30% below the product`s reference price, approval is expected to be automatic, which should also accelerate the launch of new generic products. The government is also expected to conduct educational campaigns about generics, targeting both healthcare professionals and consumers, in efforts to promote generic competition. The Spanish government seeks to gradually increase the percentage of prescriptions filled by generic drugs -- one of Bentley subsidiaries` core competencies -- from the current rate of approximately 6% to a target of 20%.
James R. Murphy, Bentley`s Chairman and CEO, said, "The proposed plan would accelerate the regulatory approval process used to get generic drugs into the hands of patients in Spain, reduce the rate of governmental healthcare spending, and increase the demand for our generic products. We are hopeful that this new plan will alleviate some of the pressure the previous system placed on us as a result of its multi-level initiatives. We expect that the benefits of the proposed plan will far outweigh the projected $200,000 to $400,000 reduction in 2005 revenues.
Murphy continued, "Historically, the regulatory process in Spain has been lengthy and has resulted in the accumulation of an extensive pipeline of products pending approval. We are hopeful that this new plan will contribute to the government`s ambitious goal of issuing regulatory approvals within a period of four to seven months after submission, permitting us to introduce even more products in the year 2005.
"Although the proposed system would not eliminate price controls, we anticipate that our gross margins would continue to gradually increase as we further develop and implement our growth strategy of expansion throughout geographical Europe and into the US and benefit from manufacturing efficiencies and economies of scale," concluded Murphy.
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and markets active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements, including without limitation, statements regarding the ability of Bentley`s subsidiaries to capitalize on increased generic competition, receive accelerated pricing approvals, and accelerate product launches as a result of the Spanish government`s proposed plan and the ability of its subsidiaries to achieve economies of scale through growth of their businesses. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to risks associated with implementation of the new plan by the Spanish government, the timing and nature of regulatory approvals, expanding generic operations, further changes in third-party reimbursement and government mandates which impact pharmaceutical pricing, competition from other manufacturers of generic and proprietary pharmaceuticals, the effects of economic conditions, risks associated with international operations, and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
--------------------------------------------------------------------------------
Contact:
Company Contact:
Bentley Pharmaceuticals, Inc.
Michael D. Price
Vice President, Chief Financial Officer
603-658-6100
www.bentleypharm.com
or
Investor Relations Contacts:
Porter, Le Vay & Rose, Inc.
Linda Decker, V.P. - Investor Relations
Jeff Myhre, V.P. - Editorial
212-564-4700
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
Press Release Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Adopts Renewed Shareholder Rights Plan
Tuesday December 21, 8:00 am ET
Renewed Plan Replaces Existing Plan That Expires on December 21, 2004
EXETER, N.H.--(BUSINESS WIRE)--Dec. 21, 2004--Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a specialty pharmaceutical company focused on advanced drug delivery technologies, which also manufactures and markets a growing branded and generic product line in Europe, today announced that its Board of Directors has adopted a Renewed Shareholder Rights Plan to replace its Shareholder Rights Plan that expires on December 21, 2004. The Renewed Plan is designed to protect long-term shareholder value and to ensure that all shareholders receive fair and equal treatment in the event of any coercive takeover tactics which may be used to gain control of Bentley. The Renewed Plan will not prevent a takeover, but should encourage anyone seeking to acquire Bentley to negotiate with the Board of Directors prior to attempting a takeover. The Renewed Plan was not adopted in response to any specific effort to acquire control of Bentley.
ADVERTISEMENT
"Bentley believes shareholder rights plans have been used as an effective tool by many public companies seeking to preserve and enhance shareholder value," said James R. Murphy, President and Chief Executive Officer. "The Renewed Rights Plan is intended to provide the Board of Directors with sufficient time to consider any and all alternatives to coercive takeover attempts. By adopting this Renewed Rights Plan to replace the existing Plan, the Board of Directors believes it is protecting the interests of all of its shareholders."
In connection with the adoption of the Renewed Shareholder Rights Plan, the Board of Directors declared a dividend of one preferred stock purchase right for each outstanding share of Bentley`s Common Stock. Each of these rights, when exercisable, will entitle the holder to purchase one one-thousandth (1/1000) of a share of Bentley`s Series A Junior Participating Preferred Stock at a purchase price of $72.55. In the event that any person or group (other than Michael McGovern, one of Bentley`s directors, who holds approximately 14% of Bentley`s stock), together with its affiliated entities acquires beneficial ownership of 15% or more of the outstanding shares of Bentley`s Common Stock, each holder of a right, other than the acquirer, would be entitled to receive, upon payment of the exercise price, a number of shares of Common Stock having a market value equal to two times the purchase price of the right. In order to retain flexibility and the ability to maximize shareholder value in the event of transactions that may arise in the future, the Board retains the power to redeem the rights for $0.001 per right.
The distribution of the rights will be made to shareholders of record as of the close of business on December 21, 2004. Initially, the rights will be attached to certificates representing outstanding shares of common stock and no separate rights certificates will be distributed. The rights will expire on December 19, 2014 unless earlier redeemed or exchanged in accordance with the Renewed Shareholder Rights Plan.
The foregoing description of the Renewed Shareholder Rights Plan does not purport to be complete and is qualified in its entirety by reference to the full text of the Renewed Rights Agreement, which will be filed with the Securities and Exchange Commission as an exhibit to a current report on Form 8-K.
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and markets active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements, including without limitation, statements regarding the benefits and effects of adopting a shareholder rights plan. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to the ability of the Renewed Shareholder Rights Plan to protect long-term shareholder value, thwart coercive or unwanted takeover attempts and ensure that all of the Company`s shareholders receive fair and equal treatment in the event of a proposed takeover, and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
--------------------------------------------------------------------------------
Contact:
Bentley Pharmaceuticals, Inc.
Michael D. Price, 603-658-6100
www.bentleypharm.com
or
Investor Relations Contacts:
Porter, Le Vay & Rose, Inc.
Linda Decker - Investor Relations, 212-564-4700
Jeff Myhre - Editorial, 212-564-4700
Tom Gibson - Media Relations, 201-476-0322
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
Bentley Pharmaceuticals Adopts Renewed Shareholder Rights Plan
Tuesday December 21, 8:00 am ET
Renewed Plan Replaces Existing Plan That Expires on December 21, 2004
EXETER, N.H.--(BUSINESS WIRE)--Dec. 21, 2004--Bentley Pharmaceuticals, Inc. (NYSE: BNT - News), a specialty pharmaceutical company focused on advanced drug delivery technologies, which also manufactures and markets a growing branded and generic product line in Europe, today announced that its Board of Directors has adopted a Renewed Shareholder Rights Plan to replace its Shareholder Rights Plan that expires on December 21, 2004. The Renewed Plan is designed to protect long-term shareholder value and to ensure that all shareholders receive fair and equal treatment in the event of any coercive takeover tactics which may be used to gain control of Bentley. The Renewed Plan will not prevent a takeover, but should encourage anyone seeking to acquire Bentley to negotiate with the Board of Directors prior to attempting a takeover. The Renewed Plan was not adopted in response to any specific effort to acquire control of Bentley.
ADVERTISEMENT
"Bentley believes shareholder rights plans have been used as an effective tool by many public companies seeking to preserve and enhance shareholder value," said James R. Murphy, President and Chief Executive Officer. "The Renewed Rights Plan is intended to provide the Board of Directors with sufficient time to consider any and all alternatives to coercive takeover attempts. By adopting this Renewed Rights Plan to replace the existing Plan, the Board of Directors believes it is protecting the interests of all of its shareholders."
In connection with the adoption of the Renewed Shareholder Rights Plan, the Board of Directors declared a dividend of one preferred stock purchase right for each outstanding share of Bentley`s Common Stock. Each of these rights, when exercisable, will entitle the holder to purchase one one-thousandth (1/1000) of a share of Bentley`s Series A Junior Participating Preferred Stock at a purchase price of $72.55. In the event that any person or group (other than Michael McGovern, one of Bentley`s directors, who holds approximately 14% of Bentley`s stock), together with its affiliated entities acquires beneficial ownership of 15% or more of the outstanding shares of Bentley`s Common Stock, each holder of a right, other than the acquirer, would be entitled to receive, upon payment of the exercise price, a number of shares of Common Stock having a market value equal to two times the purchase price of the right. In order to retain flexibility and the ability to maximize shareholder value in the event of transactions that may arise in the future, the Board retains the power to redeem the rights for $0.001 per right.
The distribution of the rights will be made to shareholders of record as of the close of business on December 21, 2004. Initially, the rights will be attached to certificates representing outstanding shares of common stock and no separate rights certificates will be distributed. The rights will expire on December 19, 2014 unless earlier redeemed or exchanged in accordance with the Renewed Shareholder Rights Plan.
The foregoing description of the Renewed Shareholder Rights Plan does not purport to be complete and is qualified in its entirety by reference to the full text of the Renewed Rights Agreement, which will be filed with the Securities and Exchange Commission as an exhibit to a current report on Form 8-K.
Bentley Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on advanced drug delivery technologies and pharmaceutical products. Bentley`s proprietary drug technologies enhance or facilitate the absorption of pharmaceutical compounds across various membranes. Bentley also manufactures and markets a growing portfolio of generic and branded pharmaceuticals in Europe for the treatment of cardiovascular, gastrointestinal, infectious and neurological diseases through its subsidiaries, Laboratorios Belmac, Laboratorios Davur and Laboratorios Rimafar; and manufactures and markets active pharmaceutical ingredients through its subsidiary, Bentley API.
Copies of Bentley Pharmaceuticals` press releases and other information may be obtained through Bentley`s web site at www.bentleypharm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements, including without limitation, statements regarding the benefits and effects of adopting a shareholder rights plan. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. Factors that may cause such differences include, but are not limited to the ability of the Renewed Shareholder Rights Plan to protect long-term shareholder value, thwart coercive or unwanted takeover attempts and ensure that all of the Company`s shareholders receive fair and equal treatment in the event of a proposed takeover, and other uncertainties detailed in Bentley`s most recent Annual Report on Form 10-K and its other subsequent periodic reports filed with the Securities and Exchange Commission. Bentley cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Bentley undertakes no obligation to update or revise the statements, except as may be required by law.
--------------------------------------------------------------------------------
Contact:
Bentley Pharmaceuticals, Inc.
Michael D. Price, 603-658-6100
www.bentleypharm.com
or
Investor Relations Contacts:
Porter, Le Vay & Rose, Inc.
Linda Decker - Investor Relations, 212-564-4700
Jeff Myhre - Editorial, 212-564-4700
Tom Gibson - Media Relations, 201-476-0322
--------------------------------------------------------------------------------
Source: Bentley Pharmaceuticals, Inc.
...sieht heute ganz nach äußerst interessanter Eröffnung aus..
@all
SHORT INTEREST per 15.12.04
Dec. 15, 2004 1,224,514 54,564 22.44
Nov. 15, 2004 1,407,108 81,105 17.35
Oct. 15, 2004 1,642,849 26,405 62.22
Sep. 15, 2004 1,639,305 51,100 32.08
Aug. 13, 2004 1,918,146 56,167 34.15
SHORT INTEREST per 15.12.04
Dec. 15, 2004 1,224,514 54,564 22.44
Nov. 15, 2004 1,407,108 81,105 17.35
Oct. 15, 2004 1,642,849 26,405 62.22
Sep. 15, 2004 1,639,305 51,100 32.08
Aug. 13, 2004 1,918,146 56,167 34.15
....ob Roth Capital wohl noch lange bei seinem letzten Kursziel von 9$ (04.11.04) bleibt?
Da es sich scheinbar abzeichnet, daß Mylan das Interesse an King Pharma zunehmend verliert, werden die wohl bald anderweitig nach adäquatem Ersatz suchen...
Da es sich scheinbar abzeichnet, daß Mylan das Interesse an King Pharma zunehmend verliert, werden die wohl bald anderweitig nach adäquatem Ersatz suchen...
@all
SHORTRATE per 14.01.05
Jan. 14, 2005 1,314,066 87,576 15.00
Dec. 15, 2004 1,224,514 54,564 22.44
Nov. 15, 2004 1,407,108 81,105 17.35
Oct. 15, 2004 1,642,849 26,405 62.22
Sep. 15, 2004 1,639,305 51,100 32.08
Aug. 13, 2004 1,918,146 56,167 34.15
SHORTRATE per 14.01.05
Jan. 14, 2005 1,314,066 87,576 15.00
Dec. 15, 2004 1,224,514 54,564 22.44
Nov. 15, 2004 1,407,108 81,105 17.35
Oct. 15, 2004 1,642,849 26,405 62.22
Sep. 15, 2004 1,639,305 51,100 32.08
Aug. 13, 2004 1,918,146 56,167 34.15
DurchsuchenBeitrag zu dieser Diskussion schreiben
Zu dieser Diskussion können keine Beiträge mehr verfasst werden, da der letzte Beitrag vor mehr als zwei Jahren verfasst wurde und die Diskussion daraufhin archiviert wurde.
Bitte wenden Sie sich an feedback@wallstreet-online.de und erfragen Sie die Reaktivierung der Diskussion oder starten Sie eine neue Diskussion.
Investoren beobachten auch:
| Wertpapier | Perf. % |
|---|---|
| -9,45 | |
| -0,98 | |
| +0,08 | |
| +0,10 | |
| 0,00 | |
| +2,47 | |
| +2,28 | |
| - | |
| - | |
| -40,00 |
Meistdiskutiert
| Wertpapier | Beiträge | |
|---|---|---|
| 198 | ||
| 111 | ||
| 60 | ||
| 47 | ||
| 41 | ||
| 40 | ||
| 35 | ||
| 29 | ||
| 28 | ||
| 28 |
