Biovitrum sees flat nine-month revenue

Swedish drugmaker Biovitrum's net revenues in the first nine months of 2007 were flat on the corresponding period last year, amounting to 956.9 million Swedish kronor ($149.4 million), as net profit fell to 81.4 million kronor from 99.0 million kronor, which is equivalent to earnings per share of 1.78 kronor versus 2.12 kronor.

According to the firm, this anticipated outcome is mainly due to increased R&D expenses and reduced revenues from contract development, which was, however, compensated by higher delivery levels of ReFacto (moroctocog alfa, recombinant factor VIII). Revenues from the hemophilia A drug increased 18% to 695.8 million kronor. Income from other products expanded 30%. Chief executive Martin Nicklasson said: "research expenses were slightly higher than the same period last year, which demonstrates that we are advancing our positions. One example of this is that we have taken important steps towards the first clinical trials for two of our key projects, Kiobrina and FIXFc."