Biovitrum's earnings flat on expenses

Sweden-based drugmaker Biovitrum AB has reported 2007 operating profit of 55.1 million Swedish kronor ($8.8 million), up just 500,000 kronor on the figure it recorded in 2006. The firm explained that an increase in the cost of goods sold, up 69.9% to 88.2 million kronor, and higher R&D expenses, which rose 2.1% to 184.7 million kronor, were responsible for its flat earnings.

Revenue for the year grew 4.6% to 1.26 billion kronor, with sales of ReFacto (moroctocog alfa, recombinant factor VIII) climbing 19.2% to 915.4 million kronor. The contribution from other drug products, including those the firm co-promotes, increased 40% to 81.1 million kronor, with recently-launched products such as Aloxi (palonosetron HCl) and BeneFix (recombinant coagulation factor IX) boosting turnover.