Cangene
Biotech company reports 32% decrease in revenue
Published in Lab Business Week, July 24th, 2005
Revenue for the third quarter of fiscal 2005 was $26.6 million, down $12.6 million or 32% from the third quarter of fiscal 2004. Revenue for the 9-month period was $80.5 million compared with $123.9 million over the same period in fiscal 2004.
The decrease relates primarily to the completion of the Vaccinia immune globulin (VIG) contract with the U.S. government, which was ongoing in 2004 and generated $11.2 million in revenue in the third quarter of last year ($42.2 million in the 9 months ended April 30, 2004) compared to $3.2 million in sales during the third...
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Source: Lab Business Week (2005-07-24)
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