Unilife Corp. (UNIS) CEO Alan Shortall Makes Open Market Purchase of the Company’s Stock

By @ibtimes on

Unilife Corp. is a medical company focused on the design, development, manufacture and supply of a proprietary range of retractable syringes. The company’s patent-protected syringes incorporate automatic, operator-controlled needle retraction features which are fully integrated within the barrel of the device.

The company’s proprietary syringes are designed to protect those at risk of needle-stick injuries and unsafe injection practices. The primary target customers for the Unilife’s syringe products include pharmaceutical manufacturers, global suppliers of medical equipment to healthcare facilities and patients around the globe who self-administer prescription medication.

Unlife today announced that its chief executive officer, Alan Shortall, has made open market purchases of the company’s shares as CHESS depositary interests (CDIs) on the Australian Stock Exchange. Mr. Shortall purchased a total of 632,713 CDIs at an average price of A$0.795 (US$0.80) per share, with an approximate value of A$503,000 (US$507,000). Each CDI represents an interest in one-sixth of a share of the company’s common stock.

Mr. Shortall is already the largest shareholder of Unilife and he advised the company that he expects to purchase additional shares from time to time during the next several months. He is doing this as Unilife commences the manufacture and supply of its Unifill prefilled syringes to pharmaceutical customers and seeks to consolidate commercial relationships with a number of interested parties.

The company is entering a new phase of its business expansion as it finalizes preparations to manufacture and supply its Unifill prefilled syringes to pharmaceutical customers by the end of June 2011. For further information about Unifill and its syringes, please visit the company’s website at www.unilife.com.

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