Zeltia's first-half 2008 income surges up 40%

Spain's Zeltia group says its total income rose 40% year-on-year thanks to a 21% sales increase, primarily attributable to Yondelis (trabectedin), its treatment for soft tissue sarcoma. Net revenues at Zeltia's PharmaMar unit totalled 13.5 million euros ($21.5 million), 35% better than the company's initial estimate. Considering the performance of sales in the first half of the year, and the foreseeable launch of Yondelis in the next few months in those European Union countries where the reimbursement price has not yet been set, the company maintains its goal of generating 30.0 million euros in revenue, including a $12.6 million settlement from US health care major Johnson & Johnson, its US partner for the marine-derived cancer drug. The group's earnings before interest, tax, depreciation and amortization expanded 48%, almost breaking even in the second quarter, while R&D expenditure increased 3% year-on-year to 26.0 million euros.