Drug Developer Biota Holdings
(ASX:BTA) says royalties from the sale of its anti-flu drug Relenza more than doubled for the 2009 financial year from the year before.
Biota says royalties for the 2009 financial year totalled $45 million compared to $20.5 million in the 2008 financial year.
Distributor of the drug, GlaxoSmithKline says it plans to ramp up annual production of the drug to 190 million courses by the end of 2009, a threefold increase to its previous capacity of 60 million courses. Biota says the expansion of Relenza capacity and any increase in resultant royalty payments, will not affect the company’s cash position until June 2010 at the earliest.
Looking back at the past five years Biota Holdings only net profit was in 2007 recording $20.18 million.
