MedImmune's 3rd-qtr loss down 13% $55.8M

US drugmaker MedImmune says that, for third-quarter 2006, its net loss was $55.8 million, or $0.23 per share, down 12.9% from the $64.1million it saw in the comparable period last year. The company explained that it had achieved the improvement through increased revenues, which grew 15% to $177.0 million.

MedImmune said that its turnover growth had been fuelled by both an 11% increase to $112.0 million in the contribution from Synagis (palivizumab), its drug which targets respiratory syncytial virus, as well as 52% growth in sales of its influenza virus vaccine FluMist, which generated $16.0 million. The company also reported that it received a $7.0 million royalty and milestone payment following European approval, and US sales of Merck & Co's human papilloma virus vaccine Gardasil.

As a result of its improved performance, the company has increased its earnings forecast to between $0.17 and $0.22 for full-year 2006, and has maintained its prediction of 4% revenue growth to $1.3 billion.