Wednesday, February 18, 2009

AMS get USA approval for Liquiband

HEALTHCARE technology company Advanced Medical Solutions (AMS) has reached a key milestone in its evolution by securing permission to market its products in America.The £16.9m turnover business, based in Winsford, Cheshire, has been given clearance for one of its major ranges of skin healing products called LiquiBand. The announcement opens AMS to a US market which is worth an estimated £140m a year, and the news prompted its shares to rise by 4.5 per cent or 1.5p to 35p. They later settled at 34.75p, a rise of 3.37 per cent.The deal also prompted analysts to predict a future target share price of 45p.While the LiquiBand range reduces the need for surgical stitches by `gluing' wounds together, some of its other products contain a derivative of seaweed to promote healing or silver to fight the spread of diseases.AMS is still seeking clearance for its other products in America which will ultimately provide it with an even stronger foothold in both accident and emergency departments and operating rooms.AMS chief executive Dr Don Evans said: "I am delighted that we have received this initial clearance on the back of which we will be finalising commercial arrangements for the introduction of our tissue adhesive technology to this key strategic market during 2009."AMS has already established a leading position in Britain and Europe with its LiquiBand range.Elizabeth Klein, of analyst Teathers, said: "We continue to highlight AMS as one of our top picks due to its good cash position - with no debt, its robust end markets, good relationships with partners and an expectation that new product approvals could additionally drive growth."

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