Immunex Corp. on Thursday blamed alleged marketingpractices by licensee Hoechst-Roussel Pharmaceuticals Inc. forsharply reduced sales of Leukine GM-CSF in the first quarter.
Sales of the blood cell stimulant fell to $3.4 million, comparedwith $9.7 million in the fourth quarter.
The Seattle company (NASDAQ:IMNX) sued early this month,alleging that Hoechst and its U.S. subsidiaries had providedlarge amounts of the drug to Immunex hospital customers asfree samples.
In the quarter ended March 31, Immunex lost $2.8 million, or19 cents a share, compared with a loss of $4.2 million, or 33cents, in the year-ago period.
Despite the Leukine situation, revenues climbed to $14.7million, up from $8.6 million in the 1991 quarter. Net productsales were buoyed by $4.9 million in sales of cancer productslicensed from Bristol-Myers Squibb Co. in January.
The company has $135 million in cash and securities.Spokesman Jason Rubin said the company expects to end theyear with more than $100 million in these categories.
No court date is scheduled in the Hoechst suit, said Rubin, whilethe companies settle a dispute over venue. Immunex sharesfell $1.25 to $25.
(c) 1997 American Health Consultants. All rights reserved.