MLR Maelor

RNS Number:2413B
Maelor PLC
27 July 2004



27th July 2004



                                 AGM STATEMENT

Alastair Macpherson, Chairman of Maelor plc, will make the following statement
at today's AGM:

"During the previous financial year, Maelor took significant steps towards
profitability, with turnover increasing by 15% and costs reduced by 46%.  We
said in our preliminary statement that your Board believes that the Company has
sufficient working capital to see us through to break-even.  This remains our
view.

Our principal source of income continues to be OptiFloTM, the brand name of the
catheter cleansing solutions distributed by Bard Limited.  It has already
achieved a 42% share of the UK community prescription market and, at its current
rate of growth, will become the number one product in its sector in 2005.

Our own brand of catheter solutions, trademarked ContiSolTM, has now been
launched in Greece and Spain.  In May 2004 we received regulatory approval in
Canada, and are now actively seeking a partner to distribute the product in that
country.  At the same time, we are starting a clinical trial co-ordinated by the
University of Alberta, which we hope will assist us in our aim to gain a
marketing authorisation in the United States.

Volplex(R), our blood plasma volume substitute, registered several successes
during the last financial year, notably UK approval of the more convenient (and
profitable) 1 litre pack size, and approval in a second country, Argentina.  We
await approval in Bangladesh and South Africa, and will shortly be making
applications in Australia, Brazil, China and South Korea.  New distributors that
have been appointed in the past year will submit the dossiers in these last
three countries, and we hope that the success that Cambridge Laboratories has
had in the UK can be repeated in these additional markets.

We are pleased to announce today the launch of another new product.  Maelor Oral
Syringes fulfil an un-met need for individually wrapped devices to give doses of
liquid medicines accurately to patients (usually infants or the infirm), who
cannot easily be treated by other routes of administration.  They were developed
as a result of consultation with medical professionals who needed a product
which could be supplied in bulk, but without the risk of contamination
associated with the existing, loose-packed syringes.  This niche product will be
sold directly to our customers, a new strategy for Maelor which may allow us to
create a model for future products.  Our target market in the UK is probably
valued at less than #2 million, but by direct selling we will achieve a greater
profit margin.

With an enlarged portfolio of income-producing products and prudent management
of our resources Maelor is now on a sound footing and able to focus its
attention on future profitability."


                                     -ends-



For further information:
Maelor plc                       Stephen Appelbee, Chief Executive Officer           Tel: 01978 810 153
Financial Dynamics               Ben Atwell/Lucy Briggs                              Tel: 0207 831 3113




Notes to editors:

                                   Maelor plc

Maelor is an AIM-listed specialist healthcare products company.  The company has
several products on the market including OptiFlo, ContiSol, Volplex and Maelor
Oral Syringes.

OptiFlo, a urethral catheter maintenance range, launched in the UK in June 1999
and distributed through Bard Limited, has gained a 42% share of the UK community
prescription market.

ContiSol, Maelor's own-brand urethral catheter maintenance range, has already
been launched in Spain and Greece.  The product has also gained approval in
Argentina where launch is expected shortly.

Volplex, the company's blood plasma volume substitute, is used for patients
suffering from the effects of trauma, surgery or certain medical conditions
which result in hypovolaemia (lower than normal blood volume).

Maelor has various products under development including micelle propofol, a
reformulation of the world's biggest selling general anaesthetic.

Volplex(R) and ContiSolTM are trademarks of Maelor Pharmaceuticals Limited

OptiFloTM is a trademark of Bard Limited




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            The company news service from the London Stock Exchange
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