Avita Medical (ASX:AVH) said executives held meeting with key surgeons, regulatory representatives and distributors to advance sales and marketing of its ReCell Spray-On-Skin in China and Taiwan.
Sydney, May 31, 2010 AEST (ABN Newswire) - The Australian shares opened slightly lower this morning with weak overseas lead. Fitch Ratings has downgraded Spain's credit rating from AAA to AA-plus, saying the country's economic recovery will be more muted than the government forecast. The local market is under pressure after the downgrade fuelled concerns over the Eurozone crisis.
On the economics front today, the Reserve Bank of Australia releases financial aggregates data for April. The Australian Bureau of Statistics (ABS) releases the balance of payments and international investment position for March, as well as its business indicators for the March quarter. TD Securities/Melbourne Institute is to unveil their inflation gauge for May. The Housing Industry Association releases its new homes sales report for April.
Company News
Avita Medical (
ASX:AVH) said executives held meeting with key surgeons, regulatory representatives and distributors to advance sales and marketing of its ReCell Spray-On-Skin in China and Taiwan. The medical device company said it is in discussions with a leading Chinese medical device distributor and is negotiating establishment of a joint venture which will include appointment of a regional manager reporting to Avita. In Taiwan, a well defined rollout plan for ReCell has now been developed and agreed and will include participation in conferences and workshops as well as clinical marketing studies over the next six months.
Healthscope Ltd (ASX:HSP) has received two indicative and non-binding proposals to acquire all of the issued capital of the company, in addition to the takeover proposal from a private equity consortium offering A$5.75 per share. The two new proposals are offering A$5.8 per Healthscope share to acquire all the issued capital of the company for cash consideration by scheme of arrangement. Healthscope has formed the view that each is equal to or superior to the consortium's proposals. The three parties will be granted the opportunity to conduct due diligence.
Sigma Pharmaceuticals (ASX:SIP) has entered a confidentiality agreement with South Africa-based pharmaceuticals company Aspen Pharmacare Holdings (JNB:APN), which has made a A$707 million offer to buy Sigma. Aspen will be allowed to conduct due diligence. Sigma agreed not to solicit rival offers for the next four weeks of limited exclusivity, however, it continues the previously foreshadowed asset sale program and recommend shareholders take no action at this time in relation to the Aspen proposal. Sigma said the due diligence undertaken by Aspen may or may not result in a formal proposal or a recommendation by the board.
Contact
Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net
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