Pharmaxis reports $45m loss
August 12, 2011
PHARMAXIS, the Australian-listed
manufacturer of the Bronchitol
COPD treatment, has released its
results for the year to 30 Jun, with
an overall net loss of more than
$45 million on turnover of just
$4.458 million for the 12 months.
The profit figure was similar to
last year’s $46m annual loss, with
the company’s major costs relating
to ongoing research and
development.
Key activities during the year
included TGA approval of
Bronchitol for the treatment of
cystic fibrosis in both adult and
paediatric patients.
An initial submission for PBS
listing was unsuccessful, with the
company now having submitted a
revised application.
In Europe the Committee for
Medicinal Products “adopted a
negative opinion” in relation to a
marketing application for
Bronchitol based on a view that the
product’s effectiveness and benefit
had not been established.
The Aridol airways inflammation
test has been approved by the US
Food and Drug Administration, with
sales commencing in late Feb.
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