Biovitrum's 3rd-qtr revenues up 19%

Swedish biopharmaceutical company Biovitrum says that its net profits for the quarter ended September 2006, were 5.6 million Swedish kronor ($790,710), up from the 4.0 million kronor loss it recorded in the year earlier period. The company said that its move into profit was driven by 19% revenue growth, which reached 248.2 million kronor.

The company, which was listed on the Stockholm Stock Exchange earlier this year (Marketletter September 11), also reported that, during the three months ending September, it initiated a Phase I trial of its developmental obesity treatment, 5-HT6, as well as a Phase IIa study of 5-HT2A, which is being assessed as a treatment for the eye condition glaucoma.