Interpharm Posts Slight Fall For Half Year

Interpharm Laboratories of Israel has reported revenues of $11.6 million for the second quarter ending June 30, compared with $12.5 million in the same period last year, a decrease of 7.4%. Gross profit for the period decreased by 11.7%, from $3.7 million last year to $3.3 million this year. Net income for the quarter decreased by 52.4% to $0.6 million compared with $1.3 million for the comparable period last year, mainly due to development expenses, added the company.

Revenues for the six months ended June 30, were $25.1 million compared with $25.2 million in the first half of 1993. Gross profit for the period increased by 3.4% from $6.8 million in the first six months of 1993 to $7 million for the first half of this year.

The company reported that sales of its bulk human fibroblast interferon decreased in the quarter by 34.5%, from $11.5 million in the second quarter of 1993 to $7.5 million. For the six months ended June, sales of hFIF were $17.6 million, compared to $22.4 million in 1993. The decrease, notes Interpharm, reflects the decision of the Italian health authorities to limit the reimbursement of Serono Etici's Frone, formulated from its hFIF.