Canadian radiopharmaceutical developer Draxis Health showed solid third-quarter 2000 revenue gains (end-September 30), reporting sales of $11.9 million (Canadian), an increase of 13% from the $10.5 million in the corresponding period in 1999. However, restructuring costs of $792,000 and scheduled annual plant maintenance led to a net loss of $1.4 million for the quarter, compared with a net loss of $548,000 in the second quarter of the year, according to Draxis. (All figures are expressed in Canadian dollars.)
Draxis CEO and president Dr. Martin Barkin said the Mississauga, Ontario-based firm has recently achieved several important milestones, including U.S. and Canadian regulatory approval for BrachySeed, a new U.S. distribution agreement with Cytogen of Princeton, NJ, for BrachySeed, priority review for Ziconotide, and expanded indications for Permax.
By AuntMinnie.com staff writers
November 8, 2000
Related Reading
Draxis gets Canadian OK for BrachySeed, October 10, 2000
DraxImage gets NRC approval for BrachySeed, September 22, 2000
Draxis signs brachytherapy seed agreement with Cytogen, September 14, 2000
Draxis to emphasize radiopharmaceuticals, July 19, 2000
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