Zeltia sees 1st-qtr 2006 loss of 11.5M euros

Spanish biotechnology firm Zeltia has posted a loss of 11.5 million euros ($14.4 million) for the first quarter of 2006 due to an increase in R&D investment, together with a 52.1% rise in marketing expenditure, to 5.1 million euros, for the promotion of new brands and product lines within its non-pharmaceutical divisions.

The period saw a 32% increase in R&D spending, to 11.8 million euros. Zeltia's PharmaMar subsidiary accounted for most of that sum, at 9.5 million euros, up 25% on last year.

Neuropharma, the firm's subsidiary specializing in the R&D of drugs for the treatment of neurodegenerative diseases, reported expenditure of 1.9 million euros, a massive 90% increase.