Groupe LSL Pharma Announces New Orders with an Annual Revenue Potential in Excess of $2.6 Million
25 Oktober 2023 - 1:00PM
Groupe LSL Pharma Inc. (TSXV: LSL) – (“the Company” or “LSL Pharma
Group”), a Canadian integrated pharmaceutical company, announces
today that its subsidiary LSL Laboratory (“LSL”) has received new
orders for natural health products. Unless otherwise specified, all
amounts are in Canadian dollars.
These new orders reflect the addition of new
clients, as well as volume increases from certain existing clients.
In addition to benefits from the higher production capacity
stemming from the relocation of LSL’s activities to a new facility
in La Pocatière, the Company’s solid reputation enabled it to take
advantage of favourable market conditions.
Based on purchase orders received up to this
date, the Company believes that the positive effect on its sales
could exceed $2.6 million on an annual basis beginning gradually in
the first quarter of 2024.
In addition, LSL Pharma Group is engaged in
negotiations for potential additional orders related to natural
health products. Should all discussions be successful, these orders
could result in annual sales of approximately $1.5 million.
“We are very pleased with these new orders that
reflect our constant efforts to stimulate sales and that are in
keeping with our strategic plan of increasing our reach in niche
product categories,” said François Roberge, President and Chief
Executive Officer of LSL Pharma Group. “With increased capacity,
LSL is more actively seeking growth opportunities in its target
markets, which enabled our subsidiary to capitalize on favourable
market conditions to win new orders. Meanwhile, the new facility’s
production rate is ramping up in line with our expectations and
further volume growth next year will result in better fixed cost
absorption, which should allow us to increase profitability.”
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking
information as defined under applicable Canadian securities laws.
Forward-looking information can generally be identified by the use
of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "continue" or similar terminology.
Forward-looking information is based on a number of assumptions and
is subject to various known and unknown risks and uncertainties,
many of which are beyond the Company's ability to control or
predict, that could cause actual results or performance to differ
materially from those expressed or implied by such forward-looking
information. These risks and uncertainties include, but are not
limited to, those identified in the Corporation’s filings with
Canadian securities regulatory authorities such as legislative or
regulatory developments, intensifying competition, technological
change and general economic conditions. All forward-looking
statements presented herein should be considered in conjunction
with such filings.
Readers should not put undue reliance on
forward-looking statements. No assurances can be given that any of
the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do occur, the actual results,
performance or achievements of the Company could differ materially
from the results expressed in, or implied by, any forward-looking
statements. All forward-looking information in this news release
speaks as of the date of this news release. The Company does not
undertake to update any such forward-looking information whether as
a result of new information, future events or otherwise except as
required by law.
ABOUT LSL
PHARMA GROUP INC.
LSL Pharma Group is a Canadian integrated
pharmaceutical company specializing in the development,
manufacturing and distribution of high-quality natural health
products and dietary supplements in solid dosage forms, as well as
high quality sterile ophthalmic pharmaceutical products. For more
information, please visit www.groupelslpharma.com,
www.laboratoirelsl.com and www.sterimedpharma.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
CONTACT:François Roberge,
President and Chief Executive Officer Telephone: 514-664-7700Email:
Investors@groupelslpharma.com
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