Animal testing lab hit as last broker quits

(adds comment from Huntingdon, broker, LSE, share price)

By Sonya Dowsett

LONDON, March 28 (Reuters) - Animal rights activists claimed another victory
over Huntingdon Life Sciences (LSE: HTD.L - news) on Wednesday when the drug
testing firm's last remaining market maker said it would no longer deal in
its shares.

Dresdner Kleinwort Wasserstein's decision was a natural result of its policy
not to act as sole market maker for any stock, a spokeswoman for the broker
told Reuters, and followed the withdrawal of marketmaker Winterflood on
Tuesday.

Huntingdon said Dresdner's decision was "understandable". Its shares were 36
percent down at four pence at 1130 GMT, valuing the firm at around 11
million pounds ($15.74 million).

Huntingdon stock have lost four-fifths of their value over the past two
years as financial backers and customers walked away under pressure from animal
rights campaigners aiming to drive the UK's oldest drugs testing laboratory
out of business.

Under London Stock Exchange requirements, Huntingdon has 10 days in which to
find another two market makers or its shares will drop from the SEAQ trading
platform, which matches the bid and ask through market makers, to the SEATS
plus platform.

This is reserved for smaller companies in the junior AIM alternative
investment market.

ANIMAL RIGHTS ACTIVISTS

Winterflood bowed out as a market maker for Huntingdon, which uses animals
for drugs testing, following demonstrations by animal rights activists at
the homes of director Ian Throssell and chairman Brian Winterflood.

Although DKW had not yet been targeted by the campaigners, a spokesman for
animal rights group Stop Huntingdon Animal Cruelty said the broker would
have been next in line.

"They can see that if Winterflood goes, they step into the frame," said Greg
Avery, press spokesman for the group. A spokesman for Huntingdon told
Reuters it was "saddening and disappointing" that business decisions in the UK could
be influenced by "terrorists".

Huntingdon stressed that it was still listed on the London Stock Exchange
with an effective trading platform for routine dealing.

The company came close to bankruptcy last year and struggled to find
financial backers when several major investors sold their stakes and bankers
withdrew support over fears of fire-bomb attacks and death threats to
employees.

Last week, Huntingdon reported an annual loss of 10.9 million pounds, nearly
twice those of 1999.