Plethora Solutions Sees 1H In Line With Market Views, Revenue GBP1M

13th Jul 2010 07:28

LONDON (Dow Jones)--Plethora Solutions Holdings PLC (PLE.LN), the U.K.-based specialty pharmaceutical company, said Tuesday first half earnings are expected to be in line with analyst expectations with revenue for the six months ended June 30 of GBP1.0 million and of GBP1.4 million. MAIN FACTS: -During the first half of 2010 significant progress has been made in the following areas: * the development of The Urology Company remains on track with generation of initial product sales in the reporting period; * the recognition of remaining reimbursement revenue relating to PSD502 from Shionogi Pharma Inc; * a continued reduction in the Company's cost base and strengthening of the balance sheet. -Urology Company has now assembled its initial portfolio of products and undertaken its first product launches. -The focus for the remainder of the year will be to generate sales through the marketing subsidiary to add to the embedded value arising from PSD502 and PSD503, which are in the hands of partners. -Shares closed Monday at 11.5 pence valuing the company at GBP5.10 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 13, 2010 02:28 ET (06:28 GMT)