Profile Therapeutics in £25 million bid talks:
This article was originally published in Clinica
Profile Therapeutics, the UK inhaler company, said it is in talks that could lead to a cash offer of 50p per share for the company, valuing it at just under £25m ($45.8m). It cautioned, however, that there was "no certainty as to the level of any such offer or indeed whether any firm offer will actually be made". The potential bidder was not named. The Bognor Regis-based firm reported first-half sales (to December 31 2003) up by 13% to £7.1m earlier this week. It cut its operating loss by 33% to £1.8m. Profile's partners include Schering AG, CoTherix and Invacare.