Actelion reports loss during first quarter

Actelion has recorded a loss of SFr9.1 for the first quarter

The Basel biotechnology group, Actelion, made a loss of SFr9.1 million ($5.21 million) in the first quarter. The company on Tuesday reported higher expenses in the preparation for market entry of its first drug.

This content was published on May 8, 2001 - 15:40

In a statement, Actelion said that delays in the clinical development of Veletri, used in the treatment of acute heart failure, would lead to additional expenses for more clinical trials later this year.

Last month, company shares lost more than half their value after it was disclosed that the group had run into problems in the drug's trial phase.

Actelion and United States-based Genentech reported then that a Phase III trial of Veletri showed it did not meet the primary treatment objectives.

The results from the second phase of the critical Phase III showed that Veltri "didn't meet its primary objective of significantly improving symptoms" of dyspnea - or shortness of breath - associated with acute heart failure, the companies said in a joint statement.

The results contrasted with those of an earlier trial which showed significant improvements in blood flow and dyspnea.

Actelion spokesman Roland Haefeli called the results "puzzling", given they seemed to contradict the findings of the earlier trial.

swissinfo with agencies

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Sort by

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Discover our weekly must-reads for free!

Sign up to get our top stories straight into your mailbox.

The SBC Privacy Policy provides additional information on how your data is processed.