Reform Pharma plc

July 31, 2009 02:01 ET

Interim Results

 31 July 2009

                                            REFORM PHARMA PLC ("THE COMPANY")
                                   INTERIM RESULTS FOR THE SIX MONTHS TO 30 APRIL 2009

 The Board of Reform Pharma plc ("Reform") is pleased to report interim results to 30 April 2009. The Company acquires
 and  develops  products for human medical and pharmaceutical markets.  We constantly assess each  product  as  it  is
 developed relative to a defined market profile and provide the necessary managerial, financial and commercial  skills
 to direct the development until the product is ready for marketing or out-licensing to a sales and marketing partner.
 There is a continuing demand for products based on known active ingredients presented as innovative formulations that
 offer  benefits  in  terms  of customer convenience and compliance. Such products have  a  lower  risk  profile  than
 traditional  new  molecular entities as the properties of the active ingredient are well-established  and  where  the
 development requirements, especially in terms of safety, are less costly and time-consuming.  Partnership with one or
 more  of  the growing number of specialty pharmaceutical companies provides a commercially viable route to market  in
 those  territories  where this is more cost-effective than direct marketing by the Company. Management  believes  the
 Company will achieve earlier than anticipated revenue generation from the acquisition of additional products that fit
 within  the  broad human healthcare sector.  Consequently, there is significant focus on the acquisition of  suitable
 late-stage  or  marketed  products, especially those that the Company may be able  to  market  directly  and  thereby
 maximise  margins.   Management is pursuing opportunities to acquired commercial rights to niche  products  that  are
 already  on the market and generating revenue or can be brought to market within the next 12-18 months.  The  Company
 is  currently undergoing confidential discussions with third parties in relation to a range of, at or near to market,
 opportunities including products that are licensed for sale in a non-UK territory and could be suitable for wider  EU

 We look forward to continuing to serve our shareholders, and thank you for your valued support and loyalty.
 The following interim results are for the six months ended 30 April 2009 and are unaudited.
 Owing  to the nature of the company's policy of share capital growth, and the lack of internal revenue, the Directors
 do not recommend the payment of a dividend.
 Mike O'Driscoll
 Director & CEO
 Reform Pharma plc
 Reform Pharma plc
                                                    REFORM PHARMA PLC
                                     Unaudited Consolidated Profit and Loss Account
                                         For The Six Months Ended 30 April 2009
                                                                              Six Months        Six Months
                                                                                Ended             Ended
                                                                               30 April         30 October
                                                                                 2009              2008
                                                                                  £                 £
TURNOVER                                                                   -                  -
Administrative expenses                                                    47,713             86,033
OPERATING LOSS                                                             (47,713)           (86,033)
Interest payable and similar charges                                       4,080              -
LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION                                (51,793)           (86,033)
Tax on ordinary activities                                                 -                  -
LOSS FOR THE PERIOD AFTER TAXATION                                         (51,793)           (86,033)
LOSS PER ORDINARY SHARE - BASIC AND DILUTED(Pence)                         0.047p             0.078p
1.   The financial statements were approved by the Board on 30 July 2009.
2.   The above figures are unaudited.

3.   The Directors accept responsibility for this announcement.


Company              :          Mike O'Driscoll, CEO
                                Reform Pharma Plc
                                Norfolk House
                                31 St James's Square
                                London SW1Y 4JR
                                Telephone +44 (0)20 7451 3790

Corporate Adviser    :          Andrew Turner
                                First London Securities Limited
                                Norfolk House
                                31 St James's Square
                                London SW1Y 4JR
                                Telephone: +44 (0)20 7451 2490

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  • Reform Pharma plc