Actelion reports increase in net revenues, net profit, cash during Q3

By Lisa Kerner

Charlotte, N.C., Oct. 19 - Actelion Ltd. said it had total net revenues of CHF 684.3 million for the first nine months of 2006, up from CHF 477.1 million for the same period of 2005.

Operating expenses were also up at CHF 487.5 million for the period, compared with CHF 351.0 million for the prior-year period.

Actelion's operating profit for the nine months rose to CHF 196.8 million from CHF 126.1 million a year ago.

For the first nine months of 2006, Actelion reported net profit of CHF 171.8 million, compared with CHF 101.3 million for the first nine months of 2005.

Basic earnings per share for the period improved to CHF 7.60 from CHF 4.55 in the prior year.

The Allschwil, Switzerland-based biopharmaceutical company generated net cash flow from operating activities of CHF 271.6 million, an increase from CHF 90.2 million for the first nine months of 2005.

Cash, cash equivalents and short-term deposits and marketable securities totaled CHF 636.3 million at Sept. 30, compared with CHF 448.1 million at June 30.

"In the first nine months of 2006, Actelion has been able to focus on operational performance in the market place as well as expanding our efforts in research and development," chief executive officer Jean-Paul Clozel said in a company news release.

"Our nine years of continuing and expanding investment in other potential medical breakthroughs could result in five different compounds in the final stage of clinical development in 2007, next to an already large lifecycle management program," Clozel added.

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