US Biopharma Cos Report 3rd-Qtr Financial Results

11 November 1996

US biopharmaceutical companies have shown some progress in product development during the third quarter and first nine months of 1996. However, the majority of them continue to make a loss.

At Allergan Ligand Retinoid Therapeutics, R&D expenses were $9.4 million in the 1996 third quarter, and $22.1 million in the first nine months of the year. R&D was primarily performed under contract by the parent companies Allergan and Ligand.

President of Arris Pharmaceutical, John Walker, said that the firm's collaborative partners remain the source of support for the majority of his company's research efforts and the entire $5.2 million in reported revenues for the third quarter of 1996.

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