Ethical Holdings Issues Pathfinder Listing

11 June 1997

Ethical Holdings of the UK has published the pathfinder listingparticulars for its proposed flotation on the London Stock Exchange by means of an institutional placing (Marketletter May 19). The proceeds of the placing will be used to progress the development of its product candidates, and to fund the acquisition of the Irish pharmaceutical company Clonmel (Marketletter June 2).

The company has proven and patented oral and transdermal drug delivery technologies and a portfolio of 42 products, which are developed or under development. Ethical says that 18 products have received

regulatory approval in at least one country, and 11 of these are currently marketed. It has 24 products in development, which include ones aimed at large markets such as hormone replacement therapy, cardiovascular disease and pain management.

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