Restructing costs hit Biovitrum's first half

Swedish drugmaker Biovitrum's net revenues in the first half of 2008 amounted to 287.9 million Swedish kronor ($48.2 million), a 28.7% decline on the comparable period last year. Profit before restructuring costs fell 60.8% to 23.4 million kronor.

Earlier this year (Marketletter May 19), the firm announced its decision to out-license a number of its primary care products, realigning operations to focus on specialist care drugs. Including expenses from these changes, the firm saw a net loss of 96.6 million kronor, or a loss of 2.12 kronor per share versus earnings of 1.31 kronor per share in the first half of 2007.

Revenues from hemophilia A product ReFacto (moroctocog alfa, recombinant factor VIII) declined 34.2% to 310.2 million kronor, while income from other products increased 18% to 25.1 million kronor.