3rd Qtr Net Loss Reduced By 28% At Warner Chilcott

Warner Chilcott, which is based in Dublin, Ireland, and Rockway, NewJersey, USA, has reported an improved net loss of $6.9 million for the third quarter ended September 30, 1997, a reduction of 28% compared to the corresponding period last year. For the nine-month period, net loss fell to $19.9 million from $34.1 million.

Revenues for the third quarter slipped slightly to $21.5 million, down 0.9%, due principally to declining sales in generics, according to WC, although the drop was partially offset by increased growth in sales and prescriptions for the company's products launched in 1997, for example LoCholest (cholestyramine) and Vectrin (minocycline). Year-to-date, these two, and five products acquired from Warner-Lambert, generated revenues of approximately $6.0 million.

Costs for the third quarter rose 66% to $9.3 million, primarily due to the recruitment of sales staff which numbered 160 by the end of October. WC had no field representatives in 1996, as its business was exclusively generic medicines requiring no promotion.