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An update from down under
December 2019
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SYDNEY, Australia—Parnell Pharmaceuticals Holdings Ltd. has inked a technology transfer agreement for the manufacture and CMC dossier development of the first of three animal health products with an unnamed organization. The agreement includes a memorandum of understanding for the two additional products, though full details are confidential. The company also updated its financial results for the half year ended June 30, reporting revenues of $11.8 million, compared to $13.5 million in the same period of 2018, and an increase of $700,000 in operating expenses due to increased investment in U.S. production and manufacturing.
Brad McCarthy, CEO and executive director, commented in part that, “Not only does this [agreement] add to our blue-chip customer base of CMO customers, it further reinforces the reputation and capabilities of our sterile injectable facility and its exemplary quality management system and technical people here in Sydney, Australia.”

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