Canadian company Hyal Pharmaceutical saw revenues in the first quarter of 1996 rise 95.1% to C$679,576 ($495,207). The firm said that this significant increase was driven by higher interest income generated from cash reserves on hand from the equity offering completed in October 1995, and by an increased rate of return on cash invested. The net loss for the quarter was C$2.4 million or 11 cents, compared with C$2.3 million or 13 cents a year earlier.
During the quarter, Hyal licensed Hyanalgese-D, its topical treatment for osteoarthritis pain, to Searle Canada for the Canadian market. The firm also established an agreement with South Africa's Adcock Ingram for the licensing of both Hyanalgese-D (hyaluronic acid and diclofenac) and Solarase (diclofenac), which is a topical treatment for precancerous skin lesions.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze