Alltracel continues steady growth

FLEDGLING pharmaceutical company Alltracel continued to make steady progress yesterday by announcing full-year revenues of €4.6 million, up from €1m in 2003.

But pre-tax losses for the year to December doubled to €5.4m as the Sallynoggin-based company’s bills for sales, distribution and marketing soared.

Chief executive Tony Richardson, who took over from company founder Gerry Brandon during the year, said revenue growth was “strong and accelerating” and was down to a successful business model that focused on the consumer wound care market.

Mr Richardson predicted 2005 would see revenues shoot up to over €21m.

“2005 has opened strongly and our revenue expectation is now in excess of €4m for the first quarter. We expect this revenue momentum to continue throughout the year,” he said.

The company develops a unique anti-bleeding agent for use in first-aid products, such as plasters, sprays and nasal plugs.

It has also launched a gel-based product that is applied to shaving cuts.

Mr Richardson said Alltracel had signed partnership deals with 50 brands in 40 countries and its anti-bleeding agent was available in the world’s top 10 first-aid markets. The company’s partners include pharmacy chain Boots, as well as leading names in Europe, America and Asia.

The company also completed the €8m takeover of British dental care firm Westone during the year.

The company’s shares were unchanged on London’s Alternative Investment Market yesterday.