France's Genset Reports 77%2nd Qtr Revenue Increase

Claiming to be Europe's leading genomics company, Genset reported totalrevenues of 16.7 million French francs ($2.7 million) for second-quarter 1997, up 77% on the corresponding period of last year, due largely to the continuation of major genomics programs with its strategic partners Synthelabo and Johnson & Johnson.

The company recorded a net loss for the quarter of 24.9 million francs, or 3.61 per share, compared with a net loss in the 1996 second quarter of 15.9 million francs, or 3.33 per share.

Genset's R&D expenses were also up 77% to 33.9 million francs, principally as a result of the company's gene discovery programs and the costs involved in operating the industrial scale mapping laboratories and the capacity expansion of the high thoroughput sequencing facility.