Losses increase at Switzerland's Actelion

Actelion of Switzerland has reported operating revenues forfirst-quarter 2001 of 14.4 million Swiss francs ($8.3 million), up from 7.7 million francs for the like, year-earlier period. The company made a net loss of 9.1 million francs, an increase of 131%, and noted that operating expenses rose to 28.9 million francs from 11.9 million francs.

However, this latter figure was down 7.8% on expenses in the fourth quarter of 2000, as the firm's clinical trials programs peaked. Actelion said it expects total revenues for full-year 2001 to reach 60 million francs, almost double the figure recorded last year.