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Zeltia Increases R&D Investment by 32.2% in the First Quarter 2006
Madrid (ots/PRNewswire) -
- Revenue Amounted to 14.8 Million Euros
- Marketing Expenditure Increased 52.1% to 5.1 Million Euros
- The Group Invested 11.8 Million Euros in Research and Development, Up 32%
Zeltia S.A. (ZEL SM; ZEL MC) today presented its financial results for the first quarter of 2006, which showed a significant increase in Research & Development (R&D) spend, to 11.8 million euros. This represents a 32% increase compared to the same period in 2005. Zeltia's PharmaMar subsidiary accounted for most of that sum, at 9.5 million euros (+25% compared to last year) while Neuropharma reported expenditure of 1.9 million euros (+90%) in R&D.
The Group recorded losses of 11.5 million euros and the reason for this is twofold: an increase in R&D investment as described above, together with a 52.1% rise in marketing expenditure to 5.1 million euros, primarily for the promotion of new brands and product lines at Zelnova and Xylazel.
The Group generated net revenue of 14.8 million euros. Zelnova sales of air fresheners and insecticides increased 7.1%, while at Xylazel, engaged in the manufacture and commercialization of paints and varnishes, sales decreased due to the slow down in the construction sector. As a whole, total sales of the Group's chemicals divisions amounted to 13.4 million euros.
Operating expenses were 16.9% lower than in the comparable period of 2005 as a result of the cost optimization processes performed by the Group.
As at the period end, the Group had cash and cash equivalents of 78 million euros (cash and cash equivalent plus current financial investments, less current debt).
During the first quarter of 2006, Neuropharma, the subsidiary specializing in the research and development of drugs for the treatment of neurodegenerative diseases, presented the dossier for the start of clinical tests of its first compound. At the same time, Nanofarma, led by the Zeltia Group, obtained a 14.6 million euros grant from the Cenit Program of the CDTI (the Government's Center for Technology and Investigation), for a project it presented. PharmaMar, involved in the research and development of treatments for cancer, continued to advance all of its clinical programmes.
C/ Reyes, 1.Colmenar
Head of Capital Market
José Abascal, 2.
Ma Luisa de Francia
José Abascal, 2.
For a copy of the full report, please contact Claire Rowell at Financial Dynamics on +44-(0)-20-7269-7285 or firstname.lastname@example.org.
Zeltia S.A. is the pioneer and leading biotechnology group in Spain, and fourth in Europe in stock market apitalisation with 1.2 billion euros. The Zeltia Group comprises the following companies: PharmaMar, the world-leading biotechnology company engaged in advancement in the field of anti-cancer treatment through the discovery and development of innovating drugs of marine origin. Neuropharma, a biotechnology company focused on the discovery and development of new drugs to combat Alzheimer's and other neurodegenerative diseases of the nervous system. Genómica, the number one Spanish company in molecular diagnosis. Finally, Zelnova and Xylazel, two traditional companies in the chemical sector, highly profitable and leaders in their respective market segments.
ots Originaltext: Zeltia Group
Im Internet recherchierbar: http://www.presseportal.ch
Isabel Lozano, CEO, PHARMAMAR, S.A., C/ Reyes, 1.Colmenar, Viejo,
Madrid, Telephone +34-91-846-60-00; Catherine Moukheibir, Head of
Capital Market, Strategy, ZELTIA, S.A., José Abascal, 2., Madrid,
Telephone +34-91-444-45-00; Ma Luisa de Francia, CFO, ZELTIA, S.A.,
José Abascal, 2., Madrid, Telephone +34-91-444-45-00; For a copy of
the full report, please contact Claire Rowell at Financial Dynamics
on +44-(0)-20-7269-7285 or email@example.com.