Ardana PLC

Ardana PLC said it is planning to sell or merge the company in order to increase the shareholder value of its product pipeline. The decision to sell came after a strategic review in December which concluded the company had to concentrate efforts and resources on products that are closer to the market. Ardana stressed that it will scale back its activities to save cash and will halt further development on its Tevelerix LA cancer product and its testosterone cream. Ardana’s CEO Huw Jones said, “Ardana's strength is its portfolio ... Successful execution of our strategy to sell or merge the Company will enable the potential in the pipeline to be maximized.”