Bought a few of these as the news seems to be getting better and I am sure we have now seen the bottom

ains




Maelor Approved to Hold CE Marks


Maelor plc, the AIM quoted specialist healthcare products company, is pleased to
announce that its wholly-owned subsidiary, Maelor Pharmaceuticals Limited, has
been certified to hold its own CE Marks for medical devices associated with
sterile catheter irrigation solutions.


Maelor CEO Stephen Appelbee said:


'This approval is important because it will enable us to develop and launch our
own product brands using a Maelor CE Mark. This now allows us to accelerate the
launch programme of our range of sterile catheter irrigation solutions into
several worldwide markets under our own brand. Now that we have established our
certified status it will be a straightforward process to extend this to other
devices being developed from our pipeline.


It is also formal recognition that Maelor maintains the highest quality
standards in the development and manufacture of its products

No news...no profit...no rise.

that normally applies I would agree.

I "sgree"...

Could you be slightly inebriated old boy?

Or just peeeeeeeeeeeed off at being discovered ramping?

Down as I predicted and more to come...no news no rise only way is down.

...and down it goes again.

of course you realise that there us a huge overhang from the placing at 10p, this in effect could see the SP fall at lot further.

I am rather surprised its holding up so well at these levels but its a good sign of a quality company

nice recovery towards the end of the day--very encourgaing indeed.

Still need to be careful though plenty of sellers about, why I will never work out.

Trigger you have some work do do now please, ie keep the thread clean. I have been asked to delier a light plane to Eire will be away for a while.

Have fun people. Make money and keep your chins up.

Updated TA

Very pleased with the solid set of results and it's looking good for the next 12/18months... I'm hanging in there for the 20p+ levels which I think will be achieved gradually (IMHO)(got in at 11.5p some 2yrs back).........

Maelor PLC
06 November 2007

6th November 2007


Maelor plc (the 'Company' or the 'Group') - Interim Results

Maelor transformed to deliver profits ahead of expectations

Maelor plc, the UK based specialist hospital medicines group, is pleased to
announce its interim results for the six months ended 30 September 2007.

Financial Highlights

Transformational results ahead of expectations

Turnover up 132% to 3.1 million (H1 2006: 1.3 million)
Profit before tax of 0.7 million (H1 2006: loss 0.07 million)
Sustainable gross margin improvement to 57% (H1 2006: 46%)
Interim earnings per share of 0.48p (H1 2006: loss 0.22p)
Net cash balance increased to 1.7 million (H1 2006: 1.1 million)

Operational Highlights

Transformation delivered through determined implementation of strategy

Growing portfolio through acquisition and licensing
Transforming acquisition of Acorus Therapeutics Limited - Integration
completed ahead of schedule
International distributor network established
Licensing of Aloxi(R) from Helsinn - launch scheduled for March 2008

Driving growth from launched brands
Strengthened commercial team to drive sales
Volplex(R) market share driven from 16% (H1 2006) to 26%
Cryogesic(R) sales growing and expansion plans implemented
Mysoline(R) transfer and introduction completed in all major
territories ahead of schedule

Partnering non-core portfolio
Partnership with Bard for OptiFloTM catheter maintenance solutions
extended

- Market leadership position maintained at 54% market share

Micelle nanotechnology collaboration with Plethora Solutions Limited
progressing well

Rapidly progressing pipeline
Haemopressin(R) and ISOplexTM on schedule for launch in H2 2008/09
GentisprayTM phase III programme on schedule
Mysoline(R) development programme in Essential Tremor initiated


Commenting on the results Tim Wright, CEO, said:

'I am very pleased to be able to report such positive results, which are ahead
of expectations and reinforce the robustness of our strategy.

'In addition to our strong portfolio of marketed brands in the UK and
internationally we have built an impressive pipeline of late stage products.
These assure the continued growth of the business which we will accelerate
through further acquisition and licensing.

'Trading since the period end remains strong and we look to the future with
confidence.'

This from this morning's new newsletter from Growth Company Investor – Peter Shearlock’s Small Cap Stock Picks.

Should be more good coverage in this week's I.C & Shares Mag I would think

"Maelor - looking cheap again"

The acquisition of Acorus, completed in May, has transformed hospital medicines group Maelor, giving it a well-spread portfolio of products with genuine growth potential. Combined with strong growth in the ‘old’ Maelor portfolio – particularly blood plasma substitute Volplex whose market share has jumped from 16 per cent to 26 per cent in a year – and a promising pipeline of product launches over the next year-and-a-half, the outlook could hardly be better.

Maelor has recorded a half-time profit of £700,000 against a loss of similar size in 2006 and earnings of nearly 0.5p a share. It looks as if there is more growth to come from Volplex and a number of Acorus products. Cryogesic, a freeze spray, is attracting growing interest in the obstetrics field, but there are other markets, such as paediatric oncology, to target. Mysoline, an epilepsy drug bought in from AstraZeneca, has been introduced in all major territories ahead of schedule. There is a big potential market here in treating essential tremor, a condition that affects one in 25 people over 40.

Maelor has a number of products in late-stage development. One of the most promising is Haemopressin for treating uncontrolled bleeding. Its only competitor in the marketplace produces sales of over £4 million a year. It is expected to be launched in the second half of next year.

Edison Investment Research reckons Maelor will produce a profit this year of £1.6 million for earnings of 1.1p a share. The figures rise to £2.2 million and 1.4p for 2008/09 – though by then it is a safe bet that management will have picked up more product rights or made more acquisitions. There is strong cash generation (net cash is now £1.7 million), which leaves management relaxed about a likely £5 million payout to the Acorus vendors over five years. Now 13.75p (against a recommendation price here in September 2006 of 6.5p) the shares sell for just under ten times earnings a year out. That is way too cheap. I remain a shareholder in Maelor.

This from Growth Company Investor today...slow and steady will win the race ! might take another year or two but worth holding on to (imho)

Medicines group makes its mark

After a disappointing decade on AIM, specialist hospital medicines company Maelor is finally making its mark, having moved from loss to profit at the interim. Undergoing a revival under new management, the May acquisition of Acorus Therapeutics further transformed the business and provided a platform for growth.

Floated on AIM at 88p back in 1997, Maelor had promised much throughout its AIM life but only started to deliver under the current management team headed up by Tim Wright, who became chief executive in 2005. Wright had recognised that the business was too small to become a profitable quoted company and that was a key reason behind the acquisition of Acorus, which created a profitable and cash-generative group and has also given us a much broader geographic spread, according to Wright.

Unlike most small health and pharma ventures, Maelor has a solid portfolio of revenue-generating, profitable products, as well as others in development that should provide potential upside. From an investors point of view, this represents a refreshing change from blue-sky businesses without revenues to cover their costs, where the emphasis is on products that have yet to see the light of day.

The Maelor product portfolio includes Volplex, which is used to treat low blood volumes as a result of surgery and provides a good example of a niche product with limited competition. Sales are growing fast and Volplexs market share has quickly increased from 16 to 26 per cent. There is one competitor in the market, with Volplex marketed through part of the National Blood Service on a revenue-sharing basis.

Other revenue generators include anaesthetising spray Cryogesic, epilepsy and tremor treatment Mysoline and Optiflow, which is used to clean urinary catheters. Maelor recently acquired the UK rights to Aloxi, a treatment for nausea and vomiting brought on by chemotherapy, which is set for launch in March 2008. And with Wright building up the companys sales team, there is scope to sell more products.

Wright emphasises Maelors pipeline of new treatments for niche markets, many of which will be launched over the next two years. Dermogesic is a non-flammable version of Cryogesic, Haemopressin is a treatment for bleeding caused by conditions such as cirrhosis, Acoranil is a liquid version of an existing anti-depressant and AquiHex counteracts hospital infections.

Maelor has net cash of 1.7 million but there are 3.48 million of loan notes on the balance sheet related to the Acorus acquisition. These will be paid over five years and the business will generate more than enough cash flow to cover these payments, leaving Maelor strongly positioned to make further acquisitions rights acquisitions such as the Aloxi deal dont require much money up front. Wright says he is looking to bulk up the business, but he wont do deals for the sake of it.

In a good sign for investors, Wright has added to his holding since the results, buying 145,000 shares at 13.75p each to increase his stake to just under one per cent. He has enough share options at 10p a time to more than quadruple his shareholding. These cant be exercised until 8 May 2010 at the earliest. By then, Wright should, hopefully, be even more in the money than he is now.

Analysts see Maelor, which made nearly 700,000 profit on revenues of 3.1 million in the first six months, posting profits of 1.38 million this year ahead of 2 million in 2009, placing the shares on modest forward earnings multiples of 15.3 and 10.6. Maelor is on the right course and should look even cheaper if management can pick up further astute acquisitions like Acorus.


Recommendation: Buy
Ticker: MLR
Sector: Health care and related services
Listing: AIM
Mid-price: 13.5p
Market cap:16.78m