Centocor Inc. on Friday reported a $34.9 million loss for thethird quarter ended Sept. 30, which the company attributed toaggressive investment in marketing in Europe and the UnitedStates, and increased research and development costsassociated with its four products in clinical trials.
Spokesman Richard Koenig said the loss was expected. Centocorshares (NASDAQ:CNTO) closed at $44.75, down 50 cents onFriday.
The Malvern, Pa., company posted $11.1 million in revenues,the bulk of which resulted from $11 million in product sales.Sales figures, which were not itemized, included European salesof Centoxin to treat gram-negative sepsis, sales in Europe andJapan of blood tests, and European sales of Myoscint cardiacimaging agent. Net loss per share for the quarter was 97 cents.
For the comparable 1990 quarter, Centocor had net income of$13,000, or 0 cents per share, on revenues of $18 million.Product sales were $8.7 million.
Centocor last week said it plans to begin Phase III clinical trialsof Centara, its anti-CD4 compound to treat rheumatoid arthritis,sometime in 1992.
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