Biovitrum's 1st-qtr 2008 income falls to $40.9M

Swedish drugmaker Biovitrum's first-quarter 2008 revenues amounted to 244.3 million Swedish kronor ($40.9 million) versus 352.9 kronor in the like, year-ago period, as profit fell to 2.1 million kronor from 44.1 million kronor, representing a loss of 0.05 kroner per share vs earnings per share of 0.97 kronor. However, the firm noted that, in first-quarter 2007, it delivered validation batches of ReFacto (moroctocog alfa, recombinant factor VIII) which, in addition to normal revenues, generated a one-off payment of 93.0 million kronor, inflating the comparative period.

Revenues from the hemophilia A product ReFacto amounted to 159.7 million kronor vs 282.3 million kronor, as income from other products increased 81% to 25.7 million kronor. During the period, cash, cash equivalents and short-term investments amounted to 735.7 million kroner as of March 31 vs 898.5 million kronor.