MedImmune loses $7 million on revenues of $6.9 million

July 26, 1996|By Mark Guidera | Mark Guidera,SUN STAFF

MedImmune Inc., the Gaithersburg-based biotechnology company, reported yesterday a $7 million net loss on revenues of $6.9 million for the second quarter.

During the same period last year, MedImmune lost $4.9 million on revenues of $7.8 million.

For the six-month period ending June 30, the company reported a net loss of $8.6 million on revenues of $18.3 million.

The company said the main source of its revenues during the first half of the year came from product sales which increased 84 percent to $13.5 million from $7.3 million during the first six months of 1995.

Sales of MedImmune's CytoGam, a drug that aids kidney- transplant patients, jumped 43 percent, accounting for $10.5 million in sales during the first half of this year, the company said.

The company's other approved product, RespiGam, which fights a viral lung infection in infants, posted $3 million in sales during the first half of 1996. The drug was approved for sale in the United States in January.

David M. Mott, president and chief operating officer, said the company so far has struck agreements with about one-fourth of the major neonatal and pediatric hospitals in the United States to add RespiGam to the list of drugs available for its young patients.

The company, therefore, expects stronger sales of RespiGam in the fall when the season starts for the respiratory syncytial virus, which RespiGam fights, he said.

Pub Date: 7/26/96

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