News - Interim Results

Chairman's statement:

I am pleased to present the interim results for the 6 months of business operations up to 31st October 2007.

This has been an active 6 months within which the Company has achieved significant milestones.

On 13 July 2007 the Board announced that all of the conditions relating to the Offer made by St Helen's Capital Plc on behalf of Accura Pharma Plc for the entire issued and to be issued share capital of Tridelta Plc, (“Tridelta”) as set out in the offer document dated 8 June 2007 (the "Offer Document"), had been satisfied or waived and that accordingly the Offer  as declared wholly unconditional in all respects as to acceptances.

On 19 October 2007 shareholders approved the Special Resolution to demerge the Company's Human Therapeutics Division, and to change the Company's name from Accura Pharma Plc to Accura Animal Health Plc. The demerger and name change took place on the 12th of October 2007.

The focus on Animal Healthcare

Our Board considers that the animal healthcare market presents substantial opportunities for the Group moving forward. In the US annual spend on what our industry describes as "Companion Animals" or pets, is running at over GBP20 billion a year.

As a retail sector spend on pets is second only to electronic consumer goods and it is growing at over 6 percent a year, a trend which is also replicated in the other main companion animal markets of western EU and Japan.

The acquisition of Tridelta plc provides the Group with revenues derived from mature animal health diagnostic products. Over the next 12 months we intend to expand the range of diagnostic products to provide entry into the lucrative “pet” market.

Our pharmaceutical product development has made good progress. With products focused on therapies for longer terms indications such as congestive heart failure and a range of behavioural issues, we forecast a potentially significant role for the Group in providing our sales and marketing partners in the US and our own sales force in the UK and EU with key products that will make significant impact on the high growth companion animal market.

We look forward to continuing to serve our shareholders, and thank you for your valued support and loyalty.

The following abbreviated consolidated financial statements are the unaudited group's financial position as at 31st of October 2007.

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.

Kevin Leech
Executive Chairman
The Board of Accura Pharma Plc