Biosearch Italia losses hit 2.5 million euros

Biosearch Italia has posted a 6.6% rise in revenues for the firstquarter of 2001 to 1.6 million euros ($1.4 million), while net loss stood at 2.5 million euros. The company said that the latter figure was principally due to staff costs, which rose 38% to 1.5 million euros as part of a recruitment drive in its R&D section. The Milan-based firm's chief executive, Claudio Quarta, said that Phase III studies of the novel antibiotic ramoplanin are continuing (Marketletter March 19), and a Phase I study of dalbavancin has been completed.