Diagnostics Boost 1994 Sales At Biochem

A 160% increase in revenues for the 11-month period ended December 31, 1994 to C$109.6 million ($80.1 million) was announced by Canadian biopharmaceutical company Biochem Pharma. (The firm has changed its fiscal year from January 31 to December 31). The increase was due to an increase in sales of the company's diagnostics products.

A net loss of C$14.2 million was recorded after non-cash charges and a share of the loss of associated company North American Vaccine, and income taxes. Before these items, Biochem achieved earnings of C$2.6 million in the 11-month period. The R&D spend, excluding amortization, amounted to C$16 million, up from C$11.7 million a year earlier.