US 2nd Qtr Corporate Results Round-Up

Results released by small- to medium-sized biopharmaceutical companiesin the USA reveal continued heavy investment in R&D, with the majority of firms still making net losses.

Agouron noted that the highlight of its fourth-quarter results was the launch and commercial success of the anti-HIV drug Viracept (nelfinavir mesylate), with sales exceeding $43.5 million. Peter Johnson, president and chief executive, estimated that 35,000 patients were taking Viracept by the end of June, and added: "we are both gratified and encouraged by this reception for our first product."

The net losses for the fourth quarter and the year ended June 30, included the write-off of $57.5 million of in-process technology associated with the company's acquisition of Alanex. Mr Johnson also stated that the company was focusing on the integration of Alanex and Agouron's R&D activities and drug discovery programs.