Actelion recovers from poor first quarter

Swiss biotechnology firm Actelion reported improved results for the first six months of 2008 on the recovery of its lead product, Tracleer (bosentan). The pulmonary arterial hypertension drug earned 12% more, like-for-like in the second quarter of 2008, and its first-half figures increased 17% on the first six months of 2007. Tracleer sales during the six-month period totaled 605.2 million Swiss francs ($593.9 million).

On a US-GAAP basis, net profit for the first half of 2008 was 127.1 million francs versus a net loss of 53.0 million francs in the comparable period the year before, while fully-diluted earnings per share reached 1.03 francs vs a loss per share of 0.45 francs. Total net revenues for the first six months of the year were 676.0 million francs, up 8% on the year-before period.

Figures for the second quarter of 2008 showed net income of 78.8 million francs, or 0.64 francs per share, an increase of 63% on the first quarter of this year. Revenue was also up, 10% to 354.4 million francs.