Repligen in profit for year-ending 2008

US drugmaker Repligen reported a swing into profit during the financial year ended March 31, 2008, on a $40.2 million litigation settlement with ImClone, but figures for the first the months of 2008 show a return to loss.

The firm recorded revenue of $19.3 million during the full-year 2008, up 37% year-on-year. This brought the year's net income to $37.1 million, or $1.18 per share, versus a loss of $900,000, or $0.03 per share.

However, during the quarter ended March 31, the company posted a net loss of $3.2 million, or $0.10 per share, vs a loss of $100,000, a negligible loss per share, during the period last year. Sales were down 11% to $3.3 million.