Santhera profit down on first product costs

Swiss specialty drug firm Santhera Pharmaceuticals fell deeper into loss  year-on-year for 2008, on expenses for its first marketed product,  Catena (idebenone) for the treatment of Friedreich's ataxia.

The firm's net loss was 44.7 million Swiss francs ($38.4 million), or  14.11 francs loss per share, versus a loss of 27.9 million francs, or  8.99 francs loss per share.

Santhera produced revenue during 2008 of 48,000 francs, vs zero in 2007.  R&D costs rose 35% to 31.5 million francs. As of the end of the year,  the company had 75.0 million francs of cash and cash-equivalent assets  remaining, down 30% on the year before.