AUSTRALIAN owned and managed pharmaceutical company First Pharma has announced a successful first full year of trading, highlighting "a number of significant milestones".
Early 2017 saw the company acquire the Luminarie range and welcomed into the group key members of its experienced management team.
The company says this acquisition has enhanced its pipeline and includes the launch of Puranox, for snoring management, in late 2017.
Justin Ooi, formerly of AstraZeneca, was appointed First Pharma ceo saying, "First Pharma has enjoyed a strong year with the launch of new brands and line extensions to Dermascar and Excilor which has quickly expanded our position in the market.
"We have more product opportunities in our pipeline, and we are expanding the team in order to maximise these assets" he said.
First Pharma chairman Andrew Howden said the company maintained a "strong balance sheet" while finalising its first acquisition for the year with global rights to KraveGone, to reduce sweetness cravings.
Although an ASX listing had been considered, the company believed it was not yet the right time for that move, he added.
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