Small US Drug Firms Post Quarterly Results

A number of smaller US pharmaceutical companies have announced quarterly results. Most have produced growing losses as their products progress through development.

Agouron Pharmaceuticals' vice president and chief financial officer, Steve Cowell, said; "Agouron's year-end financial results reflect the company's continued investment in the clinical development of its lead product candidates, Thymitaq (AG337) for the treatment of solid malignant tumors and Viracept (nelfinavir mesylate) for the treatment of HIV infection, as well as in several preclinical R&D programs."

Amylin Pharmaceuticals' net losses increased for the second quarter and the first half of 1996. The firm said that this was due to an anticipated increase in development expenses related to pramlintide, its diabetes drug candidate. There was also a decrease in revenues under agreements with Johnson & Johnson, due to non-recurring license fees paid.