Actelion preparing for Tracleer decision

Actelion of Switzerland has reported a second-quarter 2001 net loss of9.7 million Swiss francs ($5.7 million), a 6.6% rise on the like, year-earlier period, while revenues advanced 83.5% to 14.5 million francs. Operating expenses jumped to 30.7 million francs from just over 17 million francs.

Rather than the financial figures, however, most interest in Actelion is based on what a US Food and Drug Administration advisory panel review will make of the company's first product, the endothelin receptor antagonist Tracleer (bosentan) for pulmonary arterial hypertension therapy. The review will take place on August 10, just after this issue of the Marketletter goes to press, and Actelion seems positive about getting approval for the drug, having spent significantly on marketing activities in the USA. Chief financial officer Konrad Wirz said that 35 sales representatives will be in place to push Tracleer if it gets the green light from the FDA.

The company gave no earnings forecast for full-year 2001, but said that revenues should reach 60 million francs, almost that of 2000. Observers expect Actelion to become profitable by 2003 or 2004.