Minrad International's ability to sell sevoflurane in certain markets in 2007 more than doubled the Orchard Park, NY company's revenues in its most-recent quarter (end-June 30). Sevoflurane is a fluorinated methyl isopropyl ether used in general anesthesia.
Revenue increased to $4.304 million, compared with $2 million in the second quarter of 2006. The company also posted a net loss of $3.4 million, compared with a net loss of $1.7 million in the year-ago quarter.
Minrad attributed the greater loss to a decline in gross margin and added expenses in overhead, research and development, and administration, as well as additions to its sales force.
By AuntMinnie.com staff writers
August 16, 2007
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