http://oxfordpharmascience.com/


Oxford Pharmascience is a drug development company that re-develops approved drugs to make them better, safer and easier to take.

Oxford Pharmascience is using its proprietary oral drug delivery technologies to develop improved formulations of non-steroidal anti-inflammatory drugs (NSAIDs) and statins for global markets.

The Company's risk-diversified pipeline of prescription and OTC medicines is focused on cardiovascular disease and pain relief indications. Since the products incorporate previously approved drugs, this reduces risk and results in a simplified drug development regulatory pathway allowing less expensive development programs and faster access to market.

The Company has also commercialized calcium/vitamin D chews that taste better and dissolve faster than currently available regular formats. These products are now marketed in the UK, Middle East and Brazil.

Oxford Pharmascience is located in the UK and is led by a highly experienced management team that directs and manages the outsourcing of its development; pre-clinical and clinical programs; and manufacturing to a trusted network of partners and suppliers.

The Company commercializes its portfolio of product opportunities through out-licensing to leading pharmaceutical companies worldwide. Currently the Company has partnerships with Aché Laboratories and Bayer.

Oxford Pharmascience (LON:OXP) was established by a team of entrepreneurs in 2008 and is a publicly listed company on London's Alternative Investment Market (AIM), with a strong blue chip investor base.

Half Yearly Report

RNS


RNS Number : 2445O

Oxford Pharmascience Group PLC

18 September 2013




Oxford Pharmascience Group plc

("Oxford Pharmascience" or "the Company")

Oxford Pharmascience publishes its interim results for the six months to 30 June 2013



Oxford Pharmascience Group Plc is pleased to announce its unaudited interim results for the six months to 30 June 2013.



Download
The full interim results are available to view and download via the following link:



http://www.rns-pdf.londonstockexchange.com/rns/2445O_-2013-9-17.pdf



Chairman's Statement



The first half of 2013 has seen continued progress in the growth of the business and evolution of Oxford Pharmascience into a drug re-development company with an exciting pipeline of innovative medicines with huge commercial potential.

The Group's strategy is now firmly established on re-developing already approved oral prescription and OTC products to address unmet patient needs with significant commercial potential. Focusing on off-patent drugs that have been approved and been in extensive use for a long time reduces both development and commercial risk and results in a simplified drug development regulatory pathway. This in turn allows for less expensive development programmes and faster access to market.

Having spent its initial years establishing its core technology platforms the group has refocused its activities on applying these technologies to developing improved formulations of existing drugs in the large pharmaceutical sectors of pain relief and cardiovascular treatments, specifically on NSAIDs and Statins. These are two of the largest drug categories in the world with combined sales of c $24bn and are dominated by off patent drugs. Re-developing these drugs to reduce side effects and improve compliance for the majority of patients taking these medicines is a compelling strategy and the group is well placed to deliver exciting new products in this manner.

The raising of a further £5m in March of this year has allowed the Group to push on with the development of taste masked ibuprofen products and its programme for new versions of the blockbuster drugs atorvastatin and simvastatin. In May we announced positive animal studies that showed the OXPzero™ technology could have the potential to reduce the risk for patients taking NSAIDs on a long term basis of developing ulcers and other serious gastric conditions. The Company has already begun to put in place a programme to develop ibuprofen tablets to reduce this gastric risk using the OXPzero™ ibuprofen salt it has already developed.

In addition we have recently strengthened our internal team and now have a strong scientific advisory board that has started providing guidance on the clinical programmes to bring these products to market.

Preparations to initiate this work are on-going and clinical programmes for ibuprofen and statins will begin in 2014. Full details will be published shortly along with key milestones to allow shareholders to monitor the progress of the programmes.

The future is incredibly exciting and existing business growth shows a glimpse of what the Group can do once its products reach market. Our calcium product continues to grow from strength to strength. Group sales for the first half of 2013 were £501,000, 47% higher than the same period last year and 7.5% higher than the whole of 2012. Strong growth in sales is expected to continue in the second half of 2013.

This is just the start of what the future has to offer for Oxford Pharmascience and I am delighted at the speed of transition the group has shown in the first 6 months of 2013



David Norwood

Chairman

18 September 2013

Oxford Pharmascience shares up as revenues jump by half
By Jamie Nimmo September 18 2013, 3:27pm Oxford Pharma is now focused on being on a drug re-development companyOxford Pharma is now focused on being on a drug re-development company

--UPDATES SHARE PRICE--

Shares in AIM-listed Oxford Pharmascience (LON:OXP) received a shot in the arm on Wednesday when it revealed first-half revenues jumped 47% as it refocused the business on drug re-development.

The £501,000 generated in the six months to June 30 outstripped the total revenues from 2012, while the loss before tax increased slightly to £585,000, from £399,000 the year before.

It came as the company opted to redevelop existing oral drugs to make them better and easier to take instead of the previous emphasis on its technology platforms.

Shares rose 4.2% to 3.83p each on the news.

“The future is incredibly exciting and existing business growth shows a glimpse of what the group can do once its products reach market,” chairman David Norwood said in a statement.

“This is just the start of what the future has to offer for Oxford Pharmascience and I am delighted at the speed of transition the group has shown in the first 6 months of 2013.”

The shift in focus will see the company work predominantly on non-steroidal anti-inflammatory drugs (NSAIDs), such as ibuprofen, and statins, used to reduce cholesterol, which have combined global sales of $24bn and are dominated by off-patent drugs.

NSAIDs and statins have serious side effects, which limit their use. Oxford Pharma plans to reformulate these drugs with reduced side effects.

The technologies it has been developing up to this point will be used to develop improved formulations of existing pain relief drugs and cardiovascular treatments.

Chief executive Nigel Theobald told Proactive Investors that redeveloping existing drugs is a quicker and cheaper way of getting a drug to market.

“Because they’re already proven to be safe and effective, bringing new versions of these drugs to market will take on average just two to three years at around £5mln a drug,” he explained.

“If we were developing a totally new drug in these areas, that would take over 10 years and cost over £1bn.

“For a fraction of the investment, you can see huge returns by redeveloping these existing drugs.”

Theobald added: “We’ve already established our technology platforms and seen the potential. So we’re now redeveloping existing drugs ourselves to make them better and easier to take.”

He said the second half of the year has started well, with Brazilian partner Aché launching a second version of the company’s calcium chew.

Theobald also highlighted the “massive deals” being done in the sector, pointing in particular to Sanofi’s recent deal with Oxford Pharma’s US peer Pozen.

The French pharma giant agreed to pay Pozen US$35mln earlier this month for a combination aspirin and omeprazole pill that avoids common side effects.

Oxford Pharma ended the six months with £6.65mln in cash, compared with just £639,000 in the same period last year.

N+1 Singer hailed a “solid” set of results from the company, highlighting the “impressive growth” shown in the numbers.

“The group’s ambition in both areas has potentially massive implications going forward and we continue to be extremely upbeat about the group as it continues its drive to become a major player in the re-formulation market,” said analyst Sheena Berry.

Oxford Pharmascience has 'exciting' potential as growth continues
By Jeremy Naylor September 18 2013, 8:54am
Nigel Theobald, CEO of Oxford Pharmascience (LON:OXP), tells Proactiveinvestors that the second half has started strongly. Having established the technology platforms Nigel says that the company is now focused on areas that have 'huge' potential.



http://www.proactiveinvestors.co.uk/companies/stocktube/2188/oxford-pharmascience-has-exciting-potential-as-growth-continues--2188.html

Oxford Pharmascience H1s indicate an 'exciting' redevelopment future
SharecastSharecast – 18 minutes ago..
LONDON (ShareCast) - Interim results from Oxford Pharmascience show the first small signs of an exciting future after it morphed into a drug re-development company.

Group sales for the first half of 2013 were 47% higher than the same period last year at £501,000 and 7.5% higher than the whole of 2012.

Chairman David Norwood, a serial director of innovative small cap companies and also a chess grandmaster, said: "The future is incredibly exciting and existing business growth shows a glimpse of what the group can do once its products reach market."

The new strategy involves using its core technology platforms to re-develop oral prescription drugs and over the counter drugs (OTC) that are already on the market so that they address unmet patient needs with significant commercial potential or are just more accessible, such as its making a better-tasting calcium and vitamin D supplement.

"Focusing on offpatent drugs that have been approved and been in extensive use for a long time reduces both development and commercial risk and results in a simplified drug development regulatory pathway," explained Norwood.

"This in turn allows for less expensive development programmes and faster access to market."

Norwood noted that the chewy calcium supplement continued to grow from strength to strength and across the group strong growth in sales was expected to continue in the second half of the year.

The AIM-listed company, which changed its name from Oxford Nutrascience in 2011, saw losses grow from £0.4m to £0.6m as administration expenses grew.

A £5m fundraising in March allowed OXP to push on with the development of taste-masked ibuprofen products and new versions of the blockbuster drugs atorvastatin and simvastatin for lowering cholesterol.

Shares in OXP were flat on Thursday at 3.83p.

Ticking up again - some news on the horizon?

Oxford Pharma could become major player in re-formulation market, says N+1 Singer
By Giles Gwinnett September 25 2013, 8:33am The firm has shifted focus to developing products for the NSAID (non-steriod anti-inflammatory drug) and statin markets and clinical trials in both programmes are expected to begin next year, highlighted N+1 analyst Sheena BerryThe firm has shifted focus to developing products for the NSAID (non-steriod anti-inflammatory drug) and statin markets and clinical trials in both programmes are expected to begin next year, highlighted N+1 analyst Sheena Berry

Broker N+1 Singer is "extremely upbeat" about the prospects for Oxford Pharmascience (LON:OXP) as it transforms into a drug re-development company.

Following a "solid" set of interims last week, the broker has lifted its intrinsic value for the firm by 26% to 11.6 pence a share, from 9.2 pence previously.

Shares are currently changing hands at 3.95p each.

The firm has shifted focus to developing products for the NSAID (non-steriod anti-inflammatory drug) and statin markets and clinical trials in both programmes are expected to begin next year, highlighted N+1 analyst Sheena Berry.

It will re-develop existing oral drugs to make them better and easier to take instead of the company's previous emphasis on its technology platforms.

Speaking to Proactive last week, chief executive Nigel Theobald pointed to the “massive deals” being done in the sector and singled out Sanofi’s recent deal with Oxford Pharma’s US peer, Pozen.

The French pharma giant agreed to pay Pozen US$35mln earlier this month for a combination aspirin and omeprazole pill that avoids common side effects.

Analyst Berry noted that the Pozen and Sanofi-Aventis deal creates "a precedent" in this space, adding that Oxford has the ability "to take products to marketing authorisation itself, with the flexibility to consider and potentially establish partnerships in the interim".

"It is likely that the group will licence products on a market by market basis with the possibility of it entering certain markets on its own resources," she said.

"The group’s ambition in both areas has potentially massive implications going forward and we continue to be extremely upbeat about the group as it continues its drive to become a major player in the re-formulation market," she said.

Oxford Pharma’s recent interim results revealed it is well funded with £6.65mln in cash at the period-end.

The stock, meanwhile, has been a top performer as it has undergone its transformation under CEO Theobald and the team as it has advanced 155% in the past year.

However Singer’s price target points to further significant upside. “In our view, the group has a substantial opportunity to become a major player in the re-formulation market,” concluded Berry.

“Our valuation is based on risk adjusted ten-year net present value analyses of the group’s expected income streams. We are buoyant about the prospects that the group is capable of delivering.”

Thank you for that dreamcatcher - makes very positive reading.

:-)) Looks good doodlebug4

25 Sep N+1 Singer N/A Corporate


What does corporate mean ?

Belonging to a corporation or group I suppose.

Thanks for that doodlebug4, Singer seems to state this often.

UPDATE - Oxford Pharmascience promotes from within as FD steps down
By John Harrington October 18 2013, 9:40am The directors are pleased to welcome Chris to the board in what is an exciting time for Oxford Pharmascience as they continue to grow and evolve in to a drug re-development company.The directors are pleased to welcome Chris to the board in what is an exciting time for Oxford Pharmascience as they continue to grow and evolve in to a drug re-development company.

---ADDS BROKER COMMENTS---

Oxford Pharmascience (LON:OXP) has a new finance director, after Mike Bretherton stepped down from the board following his relocation to Guernsey earlier this year.

Bretherton has been replaced by Chris Hill, who has been Oxford Pharma's company secretary for around three years.
Hill, a director of investment company Quoram (LON:QRM), is clearly multi-talented, having combined his studies at Leeds Metropolitan University with a professional rugby career.

House broker N+1 Singer is not expecting the company to miss a beat as the new number cruncher takes over.

“We believe Chris Hill taking over as finance director will be a smooth transition as he knows the company well having held the position of company secretary for the past 3 years,” the broker said.

“Hill will assist the group in its transformation into a drug re-development company, focusing on product development in the NSAID and Statin markets. With clinical trials in both the group’s NSAID and Statin programmes expected to commence in 2014, the group’s future prospects are enticing. We continue to be extremely upbeat about the group’s capabilities,” N+1 Singer added.

Pharmaceutical reformulation specialist Oxford Pharmascience (LON:OXP) has completed formulation of ‘Gastric Safe’ 400mg Ibuprofen tablets as it proceeds towards clinical pilot testing.

The high-dose tablet delivers 400mg of ibuprofen via the company's OXPzero technology and aims to provide significantly reduced risks of gastrointestinal (GI) side effects.

Non-steroidal anti-inflammatory drugs (NSAIDS) are commonly prescribed to patients requiring relief from symptoms of rheumatoid arthritis, osteoarthritis and other conditions, but higher doses can have serious GI side effects, such as ulcers and bleeding.

Oxford Pharma’s stock in trade is reformulating existing drugs to make them safer and more pleasant to take, and with this development product, scheduled for clinical pilot testing in the early part of 2014, the company is targeting a market that generates US$12bn of sales a day.

"We are extremely excited about reaching this milestone as this is the first product of its kind featuring the OXPzero technology which has a dual mode of action to reduce adverse effects in both the stomach and small intestine,” said Marcelo Bravo, chief technology officer of Oxford Pharmascience.

“OXPzero reduces topical irritation while at the same time supports the GI mucosal defence and restoration processes,” Bravo added.
Pharmaceutical reformulation specialist Oxford Pharmascience (LON:OXP) has completed formulation of ‘Gastric Safe’ 400mg Ibuprofen tablets as it proceeds towards clinical pilot testing.

The high-dose tablet delivers 400mg of ibuprofen via the company's OXPzero technology and aims to provide significantly reduced risks of gastrointestinal (GI) side effects.

Non-steroidal anti-inflammatory drugs (NSAIDS) are commonly prescribed to patients requiring relief from symptoms of rheumatoid arthritis, osteoarthritis and other conditions, but higher doses can have serious GI side effects, such as ulcers and bleeding.

Oxford Pharma’s stock in trade is reformulating existing drugs to make them safer and more pleasant to take, and with this development product, scheduled for clinical pilot testing in the early part of 2014, the company is targeting a market that generates US$12bn of sales a day.

"We are extremely excited about reaching this milestone as this is the first product of its kind featuring the OXPzero technology which has a dual mode of action to reduce adverse effects in both the stomach and small intestine,” said Marcelo Bravo, chief technology officer of Oxford Pharmascience.

“OXPzero reduces topical irritation while at the same time supports the GI mucosal defence and restoration processes,” Bravo added.

?4m Placing

http://www.moneyam.com/action/news/showArticle?id=4696352

UPDATE - Oxford Pharma in a hurry to develop more NSAIDs
By John Harrington October 31 2013, 1:03pm


Investec and star fund manager Neil Woodford have been strong supporters of Oxford PharmaInvestec and star fund manager Neil Woodford have been strong supporters of Oxford Pharma

---ADDS MANAGEMENT COMMENT AND SHARE PRICE---

Oxford Phamascience Group (LON:OXP) is to raise £4mln through a placing of one million shares at 4p each with the backing of major shareholder, Invesco.

The funds will allow the company to speed up development of further products featuring non-steroidal anti-inflammatory drugs (NSAIDS) such as diclofenac and naproxen, which are widely prescribed for more severe pain, and aspirin, which is widely used to help combat cardiovascular disease.

Earlier this month the pharmaceutical reformulation specialist revealed it has completed formulation of ‘Gastric Safe’ 400mg Ibuprofen tablets as it proceeds towards clinical pilot testing, while it is also working on a reformulation of the widely prescribed cholesterol-lowering drugs atorvastatin and simvastatin, but is clearly looking to fast-track more formulations through pilot studies.

The results of the pilot studies for the likes of diclofenac, naproxen and aspirin will be available towards the end of 2014 and will place the company in a much stronger position to negotiate commercial deals as it continues to move towards the development of dossiers for these products, the company said.

"The raising of additional funds allows us to further expand our programme of pilot clinical studies demonstrating the proof of concept of our OXPzero technology when applied to other widely prescribed NSAIDs,” said chief executive officer, Nigel Theobald.

“This will position the company immediately across the whole NSAIDs space, reformulating a range of products with significant reduction in the risk of adverse GI [gastrointestinal] effects across a much wider range of patient indications. This increases the addressable value of the technology to reformulations of NSAIDs currently totalling £4.8bn in prescription sales," Theobald added.

Invesco, which already has a 22.36% stake in Oxford Pharma, will be participating in the placing, having conditionally subscribed for 94mln shares, which will take its stake up to 29.54% - a smidgen below the level at which it would be obliged to launch a formal offer for the company.

The increase in its stake will allay some fears that the imminent departure of Invesco’s star fund manager, Neil Woodford, might lead to the investment firm reducing some of its existing holdings.

Woodford intends to set up his own fund management operation next year, opening up the possibility that he, too, could become an investor in Oxford Pharmascience.

Speaking to Proactive Investors, Oxford’s chief executive officer, Nigel Theobald, declined to predict the future, though he did observe that Woodford and Invesco have been strong supporters of the company.

“Invesco has been focused on the same aim as us, which is to ensure we don’t leave value on the table,” he said, explaining why it was strategically important for the company to develop a broad range of NSAIDs.

“It makes it easier for us to have safer versions of every drug, rather than having to switch everybody to one that we have. It’s really all about ensuring we are always focused on meeting market and the clinical needs, so … with a range of NSAIDs would access the whole of the NSAIDs supermarket, with lots of different partners.

“NSAIDs are very fragmented, and clinicians have their favourites, and so we want to have safer versions of all of them, because our technology works across all of them, so why should we have just one?” Theobald asked.

Shares in Oxford Pharmascience, which have virtually doubled this year, were barely moved on the announcement, down 0.04p at 4.31p.

Holding(s) in Company

Invesco Limited Above 29%.Another 94 million shares.



http://www.moneyam.com/action/news/showArticle?id=4699749

Oxford Pharmascience wins innovation award
By Proactive Investors November 11 2013, 10:19am Oxford Pharmascience wins innovation award

Drug delivery specialist Oxford Pharmascience (LON:OXP) has won an award for innovation.

The Innovation Award 2013 was made by Aché Laboratórios, OXP’s partner in Brazil, and it recognises the success of the Inellare product, which was launched by the partners last year.

Inellare is growing strongly with both companies working in close partnership to support a growing pipeline of products under the brand, Oxford Pharmascience (OXP) said.

Aché Laboratórios has a strong presence in Brazil, which is one of the world’s most dynamic, emerging pharmaceutical markets, according to OXP.

"We are delighted to be recognised as the most innovative supplier by our partner Aché, one of the largest emerging markets pharmaceutical companies,” OXP’s chief technology officer Marcelo Bravo said.

“This demonstrates our business model of developing and licensing innovative best-in-class products to major pharmaceutical companies and validates our ability to deliver.

“We look forward to continuing to work with Aché Laboratorios to deliver innovation in Brazil and the rest of South America".

Oxford Pharmascience welcomes new guidelines on statins
StockMarketWire.com
Oxford Pharmascience has welcomed new US guideline which urge wider use of statins to prevent heart attacks and strokes.

The guidelines - which were issued by the American Heart Association and American College of Cardiology - use a new formula for estimating someone's risk of stroke or heart attack that includes many factors besides cholesterol which is the main focus currently.

They are the first new guidelines in a decade for preventing heart attacks and strokes which call for twice as many Americans - one-third of all adults - to consider taking cholesterol-lowering statin drugs.

Oxford Pharmascience chief executive Nigel Theobald said: "This is fantastic news for our Safestat programme which is developing effective lower dose versions of statins which consequently will reduce a lot of the associated side effects from taking these drugs.

"Statins are already one of the world's largest drug categories and these new guidelines in effect double the market potential for safestat in the USA overnight. We totally support these new guidelines and look forward to seeing how other countries react to these changes."





At 2:21pm: (LON:OXP) Oxford Pharmascience Group PLC share price was +0.05p at 4.05p


Story provided by StockMarketWire.com

Oxford Pharmascience heartened by new US cholesterol guidelines
By John Harrington November 13 2013, 3:05pm The new guidelines also take aim at strokes, not just heart attacks and set a lower threshold for using medicines to reduce risk.The new guidelines also take aim at strokes, not just heart attacks and set a lower threshold for using medicines to reduce risk.

New guidelines in the US on the use of cholesterol-lowering drugs has been hailed as “fantastic news” for Oxford Pharmascience’s (LON:OXP) Safestat programme.

Oxford Pharma, which specialises in reformulating drugs to make them more palatable, and/or less likely to cause unpleasant side effects, said the new directives will lead to a significant increase in the number of US patients that could be prescribed statins in order to lower cholesterol.

Under the current advice, statins are recommended for those who have total cholesterol over 200 and LDL, or "bad cholesterol", of over 100, but the new recommendations, issued by the American Heart Association and American College of Cardiology, place much less emphasis on setting numerical cholesterol-lowering targets for patients.

The advice introduces a new formula for calculating a patient's risk of heart disease based on such factors as age, gender and race, instead of high cholesterol levels alone.

Instead of aiming for a specific level of cholesterol, using whatever drugs get a patient to that level, the advice stresses the use of statins, such as simvastatin and atorvastatin, and identifies four groups of people they help the most.

"We're going to give statins to those who are the most likely to benefit,” said Dr Neil Stone, the Northwestern University doctor who headed the cholesterol guideline panel.

What this means, according to Oxford Pharma’s statement, is that 33mln Americans would meet the new threshold to consider taking a statin, with 44% of adult men and 22% of adult women likely to meet the qualification criteria, whereas under the current guidelines, statins are recommended for only about 15% of adults.

"This is fantastic news for our Safestat programme which is developing effective lower dose versions of statins which consequently will reduce a lot of the associated side effects from taking these drugs,” said Nigel Theobald, chief executive officer of Oxford Pharma.

“Statins are already one of the world's largest drug categories and these new guidelines in effect double the market potential for Safestat in the USA overnight. We totally support these new guidelines and look forward to seeing how other countries react to these changes," Theobald added.

While Oxford Pharma welcomed the new directives, Savvas Neophytou, an analyst at Panmure Gordon, suggested the sales people at drugs giant AstraZeneca (LON:AZN) might be suffering a few palpitations at the news and the effects it will have on its big money-spinning cholesterol-lowering drug, Crestor.

“Crestor’s USP [unique selling point] had been its efficacy, so treating to specific targets was a key driver for switching to more efficacious statins if cheaper generics did not work.

“This will no longer be the case. Hence there is no significant driver for adoption. More patients will start (and remain) on cheaper generic products such as atorvastatin (generic copy of Lipitor),” Neophytou predicted.

Oxford Pharmascience's statin opportunity broadens
By John Harrington November 14 2013, 11:51am New US guidelines support OXP's Safestat programmeNew US guidelines support OXP's Safestat programme

The already massive market for Oxford Pharmascience’s (LON:OXP) Safestat formulations of cholesterol-lowering drugs has become even bigger following new US guidelines on prescriptions, N+1 Singer said.

The American Heart Association and American College of Cardiology released new guidelines on Tuesday recommending the use of statin therapy for patients across four major groups at risk of a heart attack, stroke or major cardiovascular event.

Previously, the guidance was fixated on numerical values of cholesterol levels and the concomitant risk of heart attacks.

“The new guidelines offer a greater target market for Safestat with around 44% of men and 22% of women in the US meeting the new threshold for statin consideration compared to the current 15%,” the broker notes.

The Safestat programme is focused on developing lower dose versions of statins – drugs prescribed to lower cholesterol levels – that deliver the same beneficial effects as stronger versions. The big advantage to the lower dose versions is the significantly reduced levels of unwelcome side effects or, indeed, the complete absence of side effects for some recipients.

According to a survey conducted by web site www.statinusage.com, nearly three-quarters of new users stop taking their statins by the end of the first year of use. Of those, 62% cite side effects as the reason for doing so.

So, Oxford Pharma’s formulation of the two most popular generic cholesterol-lowering drugs, Atorvastatin and Simvastatin, would already widen the universe of potential statin-takers; the new US guidelines widen it further.

“The new guidelines are a positive for Oxford Pharmascience given the expanding target market. The group has completed formulation development for its Safestat™ formulations of atorvastatin and simvastatin (two leading cholesterol-lowering medication) with clinical trials expected to commence in 2014,” N+1 Singer said.

The change in US guidelines is the second bit of good news this week for Oxford Pharma.

“The group was also awarded the Innovation Award 2013 by Aché Laboratόrios (the group’s partner in Brazil) on Tuesday, validating the group’s capabilities,” N+1 Singer noted.

“We remain upbeat about the group and its future prospects,” the broker concluded.

Shares in Oxford Pharma, which started the year at 2.19p, were up 0.5% to 4.02p in mid-morning trading.