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Article: HGS revenues slide but partnerships could soon bear fruit. (Markets: Pharmaceuticals & Fine Chemicals).(Human Genome Sciences )(Brief Article)(Statistical Data Included)
- Article from:
- Chemical Market Reporter
- Article date:
- February 25, 2002
CopyrightCOPYRIGHT 2002 Schnell Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AS EXPECTED, Human Genome Sciences (HGS) has seen its revenue stream slow to a trickle following the expiration of the Human Gene Consortium, but the company now has the freedom to aggressively pursue its goal of becoming a fully integrated biopharmaceuticals firm. HGS is unveiling a new strategy for growth, which could include new drug development partnerships, out-licensing agreements, and possibly a small, product-focused acquisition.
HGS's full-year results reflected the gaping hole left by the end of the technology agreements. The company posted a pro forma net loss of $90.9 million in 2001 compared to a loss of $50.7 million in the prior year. Revenues ...