OctoPlus announces further efficiency measures
2009 has seen OctoPlus successfully change its strategy to a drug delivery service based business. This was illustrated by a number of contract announcements over the past months showing both validation and international adoption of OctoPlus' controlled release technology and which in turn will lead to ongoing short term revenues and long term potential royalties.
Simon Sturge, CEO of OctoPlus comments: "These efficiency measures will enable us to operate more competitively and will help to broaden our client base, which will diversify our revenue sources in both drug delivery and pharmaceutical services, aside from our current revenue stream from Locteron. These steps will enhance our ability to build a profitable service organisation although these reorganizational changes will prevent us from being operationally cash flow positive in the second half of the year. The measures taken today will streamline the company going forward."
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