Biovitrum's net sales drop 12% in 1st qtr
Swedish biopharmaceutical firm Biovitrum says that its net revenues for the first quarter of the year decreased 12% on the like period in 2006, to 352.9 million Swedish kronor ($52.1 million). During the quarter, net profit totaled 44.1 million kronor and earnings per share before dilution were 1.0 kronor.
Collaborations progressing to Ph II
In the reporting quarter, the 11b-HSD1 project for the treatment of diabetes, which Biovitrum out-licensed to US biotechnology major Amgen, progressed well and is expected to enter Phase II testing during the second half of the year.
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