Cerep sales flat in the first half
This article was originally published in Scrip
Sales revenues at the French pharmaceutical services firm Cerep were flat during the first half of the year, totalling €14.2 million compared with €14.98 million in the first half of 2007, although at constant exchange rates revenues would have increased by 3.5% to €15.5 million. In vitro ADME activities at its US subsidiary showed a 44.8% increase, while revenues from pharmacological profiling dropped by 5.6% at constant exchange rates. The financial results were affected by budgetary restrictions at some pharmaceutical companies, and by delays in the start of some multiyear collaboration contracts, Cerep says. Consolidated EBITDA from continuing activities was €0.49 million compared with €1.48 million in the previous six-month period. In April, Cerep entered a supply and co-marketing agreement with Perkin Elmer on target screening and profiling services, and in May it opened an additional 10,200 ft2 of laboratories and offices in Redmond, Washington.
You may also be interested in...
Emerging Company Profile: Austria’s OncoOne could have an anticancer biologic which targets oxidized macrophage migration inhibitor factor ready for the clinic in around two years.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
Mundipharma has announced the European Commission’s extension of the indications for Invokana to include renal outcomes data from the Phase III CREDENCE study.