Venturepharm Laboratories Ltd. provided earnings guidance for the year ended December 31, 2013. The company announced that based on the preliminary estimate of the company's management, a loss will be recorded by the company for the year ended December 31, 2013 compared with the profit recorded by the company for the year ending December 31, 2012. Based on the analysis of the information available for the time being, the Board considers that the anticipated loss after tax for the year ended December 31, 2013 was primarily attributable to: i) the loss on fair value caused by the re-valuation of convertible notes; ii) the financial expenses; iii) the loss of business for terminated PDS (Product development services), including inventory impairment and customer claims. The company has yet to finalize the annual results of the Group for the year ending December 31, 2013.
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- Venturepharm Laboratories Ltd. Provides Earnings Guidance for the Year Ended December 31, 2013