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BAT and manufacturing revenues decline
December 16, 2013
By: Kristin Brooks
Managing Editor, Contract Pharma
Cangene 1Q Revenues: $24.6 million (-33%) 1Q Loss: $5.2 million (earnings were $5.9 million 1Q13) Comments: Results were impacted by reduced revenues for the company’s Botulism Antitoxin (BAT), along with decreased commercial contract manufacturing revenue. The prior-year quarter also included $3.3 million of revenue from sales of non-specialty plasma, which the company no longer sells. Loss in the quarter is attributed to higher R&D expenses related to the acquisition and developm...
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