29 Sep 2015
FY results ahead of expectations
Vernalis’ financial results for the 18 months to 30th June are ahead of expectations, mainly driven by lower than expected costs. The key highlight during the period was the FDA approval (in April) and US launch (in Sept) of TuzistraTM XR, the company’s long-acting prescription treatment for cough cold. Vernalis is on the N+1 Singer Best Ideas list for 2015. We reiterate our Buy recommendation.