LONDON (ShareCast) - Shares in drug coating specialist Meldex International fell sharply as it posted a loss in 2007 and hinted it is still not interested in a takeover despite numerous approaches.

"The company remains in an offer period and is in continued and detailed discussions with third parties," chief executive Richard Trevillion said, adding "At no time has the company indicated it is for sale but has had to deal with bona fide approaches in accordance with fiduciary duties to shareholders."

Pre-tax losses came in at £355,000, down from £1.94m on revenues of £27.1m up from £9.5m. Three acquisitions, Melbrosin, Kudos and DPML, added £9.8m to sales.

The group, which produces Fastwrap, a quick digesting version of ibuprofen, posted operating profits of £1.7m against a loss of £2.2m. Net debt at the year end was £3.5m.

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