PHC revenues down 13% in first half
The US-based, UK-listed bioproducts company, Plant Health Care (PHC - Raleigh, North Carolina), recorded a 12.9% drop in revenues to $3.3 million in the first half of 2014. The company attributes the decline to milestone payments of licence revenue for the disease resistance activator, Harpin αβ, in the first half of 2013. Sales of the core products, Harpin αβ, and the drought resistance product, Myconate, more than doubled to $1.8 million. Revenues associated with Harpin αβ and Myconate accounted for 53% of the total in the first half of 2014 compared with 43% in the same period last year.