January 30, 2018 / 9:45 PM / a month ago

BRIEF-Vistin Pharma To Postpone The Expansion Of The Metformin Production Capacity

Jan 30 (Reuters) - Vistin Pharma Asa:

* REG-VISTIN PHARMA ASA : VISTIN PHARMA TO POSTPONE THE EXPANSION OF THE METFORMIN PRODUCTION CAPACITY

* TO POSTPONE CONSTRUCTION OF NEW NOK 120 MILLION PRODUCTION LINE AT COMPANY‘S DEDICATED METFORMIN PRODUCTION PLANT AT FIKKJEBAKKE​

* ‍NEW LINE WILL HAVE AN ANNUAL CAPACITY OF 3,000MT METFORMIN​

* ‍REVISED ESTIMATES INDICATE THAT IT WILL TAKE LONGER TO FILL NEW PRODUCTION LINE THAN FIRST ANTICIPATED​

* VISTIN PHARMA -TO REDUCE RISK RELATED TO INVESTMENT, DECIDED TO POSTPONE CONSTRUCTION UNTIL SALES CONTRACTS FOR LARGER PART OF NEW VOLUME ARE IN PLACE​

* VISTIN PHARMA- ‍WHEN SUFFICIENT VOLUMES ARE SECURED TO CONTINUE EXPANSION WORK, WILL BE ABLE TO HAVE 3,000MT CAPACITY INSTALLED WITHIN ABOUT 18 MONTHS​ Source text for Eikon: Further company coverage:

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