CAT 1st-qtr revenue reached L14M

UK-based Cambridge Antibody Technology has reported that revenue for its first fiscal quarter ended December 31, 2005, was L14.0 million ($24.8 million) versus L2.7 million for the like, year-earlier period, plus the $255.0 million received from Abbott Laboratories in October last year and paid out immediately to CAT's licensors as a part of the litigation settlement with the US health care major in respect of Humira (adalimumab; Marketletters passim). The remaining royalty balance consists of accrued royalties on sales of Humira for the three months and an accrual for the first of five annual payments of $9.375 million due from Abbott in January 2006 as part of the terms of the settlement agreement.