Innogenetics' 1st Qtr
Innogenetics of the Netherlands said that product sales grew 6.8% to 126million guilders ($3.6 million) in the first quarter of 1997. In dollar terms, sales fell due to the impact of the dollar exchange rate. Revenues from license fees totaled $300,000. The firm said that the majority of the license fees in 1997 are expected in the second half of the year. Net income was reported at $900,000, compared with $3.3 million in the 1996 first quarter.
The firm said that its LiPA HIV RT test will be launched in Europe during the second quarter of the year, and could have market potential exceeding $100 million. The first-quarter results were in line with expectations.
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