Biovitrum's FY 2006 net profit plummets 47.4%

Swedish drugmaker Biovitrum says that its net revenues for full-year 2006 increased 28% on the previous year to 1.20 billion Swedish kronor ($171.8 million), as net plummetted 47.4% to 92.7 million kronor or 2 kronor per share. The firm noted that its operating profit excluding capital gain from divestment of property, restructuring costs and non-recurring costs related to its stock exchange listing (Marketletter September 11, 2006), totaled 128.6 kronor.

Biovitrum's revenues for ReFacto (recombinant antihemophilic factor) increased 89.3% to 768.0 million kronor. The firm manufactures the hemophilia A drug for US drug major Wyeth, generating royalties as well as co-promotion revenues for its sale in the Nordic region.

In February 2006, Biovitrum acquired the exclusive rights to Aloxi (palonosetron HCl) injection, for the prevention of post-operative nausea and vomiting that often occur in connection with cancer chemotherapy, in the Nordic region from the Swiss company Helsinn. The product was launched in Norway in December 2006 and, in the other Nordic countries in January.