Net Loss At Nippon Chemifar

Nippon Chemifar posted a net loss in the fiscal year ended March 1996 of 9.6 billion yen ($87.7 million). The company expects to move back into the black in the current fiscal year. Operating profits were 734 million yen, down from 1.3 billion yen a year earlier, and recurring profits fell to 101 million yen from 1 billion yen. No earnings per share were recorded.

The company is faced with a 9% cut in its drug prices due to Japanese government policy. However, the firm is reporting very strong demand for its anti-inflammatory agent Soleton (zaltoprofen) and an antihypertensive agent Calvan (bevantolol).