Cleared to launch BMK08 / Ectosan Vet in Norway

Norway’s Medicines Agency (NoMA) has approved Benchmark Holdings’ parasiticide BMK08 (imidacloprid) - to be branded Ectosanâ Vet - for the treatment of sea lice in farmed salmon when used with its CleanTreatâ water treatment system. Norway is the largest producer of farmed salmon globally and will be the initial focus of Benchmark’s commercialisation efforts. Ectosanâ Vet can only be sold with the CleanTreatâ water purification system, which has been developed in parallel to prevent environmental contamination of the ocean. Two CleanTreatâ units are ready for the launch and up to five may be required to service the Norwegian salmon farming industry. Each CleanTreatâ unit may generate sales of c £10m/year at full utilisation, so this new technology potentially represents a major contributor to revenue and EBITDA.

We have updated our financial model to reflect guidance on margins and speed of ramp up in sales, together with a more general review with the transfer of coverage to a new analyst. Benchmark will announce its Q3 results on 24 August and is likely to provide further financial guidance at that point.