Cytogen's 4th-qtr sales up 28% to $3.4 m

US biopharmaceutical firm Cytogen reported record product revenues of $3.4 million for the fourth quarter of 2003, rising 28% from the like, year-earlier period. Sales were driven by the company's recently-reacquired lead product Quadramet (samarium lexidronam), which achieved turnover of $1.6 million. Cytogen bought back marketing rights to the pain-relief drug from Berlex Laboratories last year (Marketletter June 23, 2003).

Total revenues inched up to $3.5 million from $3.4 million, and the company posted a net loss of $3.1 million ($0.26 per share) versus $3.5 million ($0.40 per share) for the same period in 2002.

Total revenues for the full year rose 7% to $13.8 million but product sales were slightly under par at $9.8 million compared to $10.6 million for the prior year, as revenues from discontinued products dropped substantially in the year. Cytogen disclosed a net loss of $9.4 million, or $0.92 per share, down from $15.7 million, or $1.85 per share, recorded in 2002.