British Biotech earnings play up worries over research program
Article Abstract:
British Biotech PLC's pretax loss for the year ended Apr. 30, 1998, of 44.8 million pounds sterling further heightened worries about the firm's drug research program. The firm, which posted a loss of 28.5 million pounds sterling in fiscal 1997, attributed the 1998 loss to the growth in the scale of clinical trials and the costs of completing new research, development and support facilities. A key product for British Biotech is oral cancer treatment Marimastat, which is now in Phase III clinical trials. There is a now a nagging question whether the firm's 132.8 million pounds sterling cash reserve can support the commercialization of the drug over the next three years.
Comment:
Its pretax loss for year ended 4/30/98, of 44.8 mil pounds sterling further heightens worries about co's drug research program
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Sales decline at Glaxo, rebound seen this year
Article Abstract:
Glaxo Wellcome PLC reported a 12% decline in sales for the first four months of 1998 but is confident of being able to rebound throughout the rest of the year. Sir Richard Sykes, chairman of the British drug firm, said a new anti-hepatitis B drug is slated to gain approval from authorities later in 1998. He said troglitazone, the drug for diabetes, is being introduced a second time after its withdrawal from the UK market in December 1997. Japanese and US regulators, however, continue to uphold sale of the drug in their respective markets.
Comment:
Reports a 12% decline in sales for the first four months of 1998 but is confident of being able to rebound throughout 1998
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Britain's many options: a single European currency. Tunnel revisionism
- Abstracts: Shiseido's make-over. Work in progress
- Abstracts: Big New Zealand merger planned. Peru merger forms giant meal-maker. NZ merger to cost jobs
- Abstracts: Lafarge invests in Korea buying Wallboard plants. Chirac names ally as France's Finance Chief
- Abstracts: Effects of personality on service quality in business transactions. Acculturation and the influence of ethnicity on market orientation of African and Caribbean companies in Britain