Biora 2002 sales rise 17%, 4th qtr -8%

Biora, the Swedish biotechnology-based supplier of products todentists, has reported net sales of 129.7 million Swedish kronor ($15.3 million) for 2002, a rise of 17% on 2001, with growth particularly strong in the USA, Germany and Japan. For the fourth quarter, however, turnover was down 8% to 30.2 million kronor, impacted by a 15% decline in the US dollar exchange rate, the company noted. Gross profit for the year was 106.7 million kronor, up 21.4%, while for the fourth quarter this was down 3.7% to 26.4 million kronor. 2002's net profit increased 14.3% to 1.6 million kronor, while for the quarter it doubled to 1.2 million kronor.

In the USA, Biora's largest market, sales were 69.0 million kronor for the year, an increase of 13% (some 21% higher in dollar terms). For the fourth quarter, these fell 6% to 17.4 million kronor. Germany, the firm's biggest European market, saw sales increase 14% to 27.2 million kronor for the year and remain flat at 6.9 million kronor for the quarter. Deliveries to Biora's Japanese partner Seikagaku amounted to 7.9 million kronor (no shipments were made in 2001).

Commenting on its research, Biora says a Phase I trial was finalized on an enamel matrix protein-based product for use in endodontic therapy, but progress on the firm's agent to treat xerostomia has been delayed due to restructuring at partner Medpharm, with Phase II trials now set for initiation in first-quarter 2003.