BOUCHERVILLE, Quebec, Oct. 25, 2023 (GLOBE NEWSWIRE) -- 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: 514-664-7700
Email: Investors@groupelslpharma.com
