Omacor sales drive Pronova's 2008 income

Norway's Pronova Biopharma, a developer of omega-3 derived drug products, saw 2008 profit more than double, year-on-year, due to  rocketing sales of Omacor (concentrated omega-3 poly-unsaturated fatty  acids).

Revenue jumped 28% to 1.3 billion Norwegian kroner ($188.8 million),  while R&D costs reached 11.9 million kroner. Net income rocketed to  344.1 million kroner, or 1.14 kroner per share, versus 143.4 million  kroner, or 0.45 kroner per share. However, the firm's cash and cash  equivalent reserves were tapped by greater investment, falling to 76.8  million kroner as of December 31, 2008, vs 284.5 million kroner at the  same point of 2007.

European turnover jumped 30% to 545.1 million kroner, while US revenue  reached 730.0 million kroner, a 28% increase. Sales in the rest of the  world were flat at 26.4 million kroner.