York Pharma's 2006 loss deepens 63%

UK-based York Pharma, a developer of dermatological products, says that it saw a loss of L5.9 million ($11.4 million) for year ended September 2006, up 62.9% on the deficit it recorded in 2005. Max Bartlett, chairman of the company's board, said that the loss was broadly in line with expectations, and added that it reflects the ongoing investment in the creation of a robust product portfolio that will serve as a platform for growth.

Despite the increased loss, the firm remained upbeat. Terry Sadler, the company's chief executive, said that the year had seen the firm make major advances in terms of both business strategy and pipeline developments. Specifically, he highlighted the company's lead product Abasol (abafungin), an arylguanidine-based antifungal agent, as being key to its future performance, with the first European commercialization of the drug planned for the first half of 2007. Mr Sadler also said that the group is in a position to respond to a request from the UK's Medicines and Healthcare products Regulatory Agency (MHRA) for additional data prior to approval (Marketletter October 9).

York's atopic eczema treatment Sabarep (YP001), the first product developed using the firm's Skin Barrier Repair Technology Platform, has demonstrated substantial anti-protease activity in both in vitro and in vivo studies, and has recently entered controlled trials in human subjects. The company added that it will be meeting with the MHRA to discuss the requirements for the remainder of the Sabarep development program.