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AUSTRALIA'S BIOTA HOLDINGS POSTS H1 PROFIT DROP TO US$776,112.
SYDNEY, March 1 Asia Pulse - Biotechnology company Biota Holdings Ltd (ASX:BTA) today reported a net profit of $A1.48 million ($US776,112) for the six months ended 31 December, 2000, down from $A4.57 million ($US2.4 million) previously.
Biota also said that its full year results would reflect the impact of competition on sales of its anti-flu drug Relenza.
Biota also said it would seek to build its presence in the United States.
"Biota's full year results will reflect the negative impact on Relenza sales of both low flu activity and strong competition in the market," Biota said.
According to Biota, reports from the Centre for Disease Control in Atlanta indicated that the level of influenza activity so far this season in the northern hemisphere was at a 10 year low.
"Historic patterns suggest that more severe flu seasons can be expected in the future; however it is sufficiently late in the current winter that little further flu can be expected this year."
Biota chief executive officer Dr Hugh Niall said the volatile nature of influenza from one season to another demonstrated how important it was for the company to develop new products.
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Source: HighBeam Research, AUSTRALIA'S BIOTA HOLDINGS POSTS H1 PROFIT DROP TO US$776,112.