- Palla Pharma has updated its shareholders on its 30 milligrams Codeine Phosphate Tablet and Caplet submission to the U.K. drug regulator
- Palla recently completed the validation trials also needed to support the application to the MHRA to manufacture Codeine Phosphate and Paracetamol
- The approval is significant news for Palla, as the manufacturer is expecting strong revenue and EBITDA uplift from the U.K. sales
- Then the company expects the drug sales into the U.K. market to result in a strong revenue uplift in FY21
- Palla has extended its existing debt facility to $20 million to ensure this growth achieved
- Shares in PAL are up 1.43 percent, trading for 71 cents each
