Biovitrum's 2nd-qtr 2007 income soars 33%

Swedish drugmaker Biovitrum AB's second-quarter 2007 net revenues increased 33% on the like, year-ago period, to 404.2 million kronor ($551.6 million). Reflecting the company's strong income, net profit reached 59.8 million kornor from 7.1 million kronor in the year before, as earnings per share totaled 1.31 kronor versus 0.15 kronor. According to the firm, the increase is mainly due to strong contributions from ReFacto (moroctocog alfa, recombinant factor VIII) manufacturing revenues.

During the period, Biovitrum's A2A project, which is based on an entirely new principle for the treatment of neuropathic pain, entered Phase II trials. Other second-quarter development highlights included the start of supplementary clinical studies on Exinalda for patients with fat malabsorption due to pancreatic insufficiency.

Company chief executive Martin Nicklasson said: "the positive trend continues for Biovitrum in the second quarter of 2007. We are able to report positive growth in both profits and sales at the same time as our research projects continued to make good progress. We have also succeeded in increasing our portfolio of marketed drugs, which will have a positive impact on our future sales."