Labopharm in trouble over 11% deeper loss
Canadian drugmaker Labopharm's 2008 loss deepened by 11%, year-on-year, despite a 16% jump in sales, and the company's cash is running dangerously low.
The firm's net loss was C$40.5 million ($31.5 million), or 0.71 loss per share, versus a loss of C$36.6 million, or 0.64 loss per share.The company saw cash and cash equivalents drop 51% to C$8.4 million at the end of 2008.
Sales were C$22.0 million vs C$19.0 million, while R&D costs were almost flat at C$23.5 million. In the fourth quarter of the year, sales of the firm's first marketed product Ryzolt (tramadol) reached C$3.3 million, up from $1.6 million year-on-year.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze