Medical inhaler specialist Consort Medical (CSRT) further burnished its reputation by winning a contract from Nicoventures, BAT's inhaled nicotine development company, for the commercial production of a so-called electronic cigarette, which delivers a nicotine hit without the damaging effects of smoke.
IC TIP:
Hold
at
836p
The product, to be called Oxette, is expected to go through the approval system next year with a commercial launch in 2014. This gives Consort time to scale up its production facilities, with the cost estimated at £25m to be booked over the next two years. Analysts estimate that Oxette could be worth about £20m annually to Consort if the product is a success.
