Innogenetics sees 2nd-qtr sales edge up 2%

Gent, Belgium-based drugmaker Innogenetics says that, in the second quarter 2006, it achieved total revenues of 14.1 million euros ($18.2 million), up 2.1% on the year-earlier period. The company said that the increase had been achieved by the robust performance of its diagnostics division, which grew 6.7% in the period, following the 21% expansion in the first three months of the year.

Despite the continued sales growth, Innogenetics' loss for the first half of the year increased from 9.9 million euros to 12.5 million euros. The firm attributed this to a combination of increased marketing and sales activities as well as a significant rise in its operating expenses, which were 4.3 million euros for the first half of the year.