Navigation Links
Idenix Pharmaceuticals Reports Third Quarter and Nine Month Financial Results
Date:11/6/2007

ivudine to Novartis. Idenix currently expects to incur approximately $3 million to $5 million in additional charges relating to this restructuring over the next two quarters. Also in connection with the restructuring, the company accelerated the depreciation of certain assets equal to approximately $1.9 million in the quarter ended September 30, 2007 and expects to record approximately an additional $1 million of accelerated depreciation charges in the fourth quarter of 2007.

For the nine months ended September 30, 2007, Idenix reported total revenues of $55.4 million, compared with total revenues of $52.1 million for the nine months ended September 30, 2006. The company reported a net loss of $65.0 million, or a loss of $1.16 per basic and diluted share for the nine months ended September 30, 2007, compared with $51.5 million, or a loss of $0.92 per basic and diluted share for the nine months ended September 30, 2006.

Significant Events

Significant events in the last quarter include:

-- Announced a strategic restructuring whereby Novartis, Idenix's

collaboration partner, effective October 1, 2007, assumed full

responsibility for the development, manufacturing and commercialization

activities relating to Tyzeka/Sebivo, including ongoing and future

clinical trials and regulatory filings. In place of the previous

revenue sharing arrangement, Idenix will receive a royalty on worldwide

product sales. As a result of these changes, Idenix is reducing its

workforce by approximately 100 positions, the majority of which

supported the development and commercialization of Tyzeka/Sebivo in the

United States and Europe. Idenix estimates that this restructuring will

result in savings of $40 million to $45 million, including associated

third party and marketing costs, on an annualized basis.

-- Completed a single-dose pharmacokinetic (PK) study and a 7-
'/>"/>

SOURCE Idenix Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7

Related medicine news :

1. Idenix Pharmaceuticals to Present at Two Upcoming Investor Conferences
2. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
3. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
4. Provectus Pharmaceuticals, Inc. Begins Phase 2 Clinical Trial for Metastatic Melanoma
5. Vista Partners Updates Coverage on Tapestry Pharmaceuticals
6. Transcept Pharmaceuticals, Inc. to Present at UBS 2007 Global Life Sciences Conference
7. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on Tapestry Pharmaceuticals, Inc.
8. Amylin Pharmaceuticals to Webcast Corporate Overview During 43rd Annual Meeting of the European Association for the Study of Diabetes
9. Major Pharma Clinical Case Studies From Amgen, AstraZeneca, GSK, Intermune, Cephalon Inc, Sunesis Pharmaceuticals and Dartmouth Medical School During Fall Clinical Focused Programs
10. Provectus Pharmaceuticals, Inc. releases summary results of phase 1 metastatic melanoma study
11. Class Settlement Could Result in Considerable Savings for Certain Consumers of Prescription Pharmaceuticals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/14/2014)... treat children with uncomplicated acute appendicitis is a reasonable ... fewer missed school days, according to a pilot study. ... Hospital and published online April 12 in the ... the first prospective study on nonoperative management of acute ... , Researchers enrolled 77 patients age 7 to 17 ...
(Date:4/14/2014)... 2014, Perth, Australia. Drug discovery company Proteomics International ... of a companion diagnostic (CDx) test with the ... The research team authenticated the panel of biomarkers ... samples. Seven biomarkers were validated at high stringency ... The mass spectrometry data was then cross-validated using ...
(Date:4/14/2014)... 2014) When it comes to the cost and ... Patients get the best care when they are treated ... extensive experience in their current job, according to a ... and Columbia Business School. The study was published in ... Applied Economics . , The review of more ...
(Date:4/13/2014)... STANFORD, Calif. A low-cost empowerment program for ... and sexual harassment of these girls, who live ... and are frequently attacked, a large new study ... Stanford University School of Medicine, Lucile Packard Children,s ... No Worldwide, validated the program,s effectiveness in combating ...
(Date:4/11/2014)... the processes that control brain cell production could pave ... brain-related disorders. , Scientists have gained new understanding of ... how and when nerve and brain cells are formed ... and keeps it healthy. Their findings could help explain ... which is a fundamental characteristic of many diseases including ...
Breaking Medicine News(10 mins):Health News:Antibiotics alone are a successful treatment for uncomplicated acute appendicitis in kids 2Health News:Antibiotics alone are a successful treatment for uncomplicated acute appendicitis in kids 3Health News:Longer nurse tenure on hospital units leads to higher quality care 2Health News:Empowerment program greatly decreases incidence of rape, Stanford/Packard-led study finds 2Health News:Empowerment program greatly decreases incidence of rape, Stanford/Packard-led study finds 3Health News:Empowerment program greatly decreases incidence of rape, Stanford/Packard-led study finds 4
... INDIANAPOLIS An orphan drug originally used for HIV treatment ... additional sensitivity and pain from opioid use. The study by ... in the March 25, 2011 issue of Brain, Behavior ... in animal models may ultimately make morphine a safer and ...
... , THURSDAY, March 24 (HealthDay News) -- Children ... control more quickly and accurately than those without the ... characterized by repeated involuntary sounds and physical movements called ... or -- in rare adult cases -- blurting out ...
... is available in French and Spanish . ... of Granada , belonging to the Laboratorio de Ciencias de la ... night vision, and the tool required to implement it, which has ... Software Halo v1.0, and a computer where the mouse is used ...
... Nick Harvey of the MRC Lifecourse Epidemiology Unit, Southampton, ... of Lige, Lige, Belgium were presented with the ESCEO ... at a ceremony held during the European Congress on ... Spain. The Awards, valued at 2,500, recognize young ...
... China, investigated eye movements in Chinese and British people to ... how they compare between different human populations. They found ... British people, is much more common in Chinese people, suggesting ... different populations. Tests of eye movements can ...
... Even mild stress can cause long-term disability that prevents people ... been known that mental disorders can be a cause of ... forms of stress should be taken more seriously, according to ... Kingdom, and colleagues. The study included over 17,000 employed ...
Cached Medicine News:Health News:A safer, more effective morphine may be possible with Indiana University discovery 2Health News:Children With Tourette Syndrome Have Better Motor Control, Study Finds 2Health News:Researchers develop a halometer that tests alterations in night vision 2Health News:Researchers develop a halometer that tests alterations in night vision 3Health News:Eye movement differs in British and Chinese populations 2Health News:Even Mild Stress Can Lead to Disability, Study Says 2
(Date:1/15/2014)... , Jan. 15, 2014  Research and Markets ... the "Dental Consumables Market - Global Industry ... - 2018" report to their offering. ... ) Dental consumables are products which are ... impairments, for tooth restoration and in treatment of ...
(Date:1/15/2014)... , Jan. 15, 2014  Novation, the leading ... company, awarded several new IT value-added reseller (VAR) ... hospital organizations with IT goods and services at ... agreements, as well as value-added services such as ... New Novation agreements were awarded to ...
(Date:1/15/2014)... DUBLIN , January 15, 2014 ... that it has waived the Office of Fair Trading (OFT) ... the outstanding shares of ViroPharma Incorporated (NASDAQ: VPHM).   ... no longer conditional on OFT approval, and Shire expects to ... currently scheduled expiration time, subject to the satisfaction of all ...
Breaking Medicine Technology:Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 2Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 3New Novation Information Technology VAR Contracts Offer Significant Savings to Hospitals 2Shire Waives OFT Condition Relating to the Acquisition of ViroPharma Inc. 2Shire Waives OFT Condition Relating to the Acquisition of ViroPharma Inc. 3
... Products Company, Inc. has announced the addition of Florida ... Systems. Florida Metrology, based in Jupiter, ... Systems is a line of highly accurate portable metrology ... across the United States. Tim Row of Florida Metrology ...
... FOUNTAIN HILLS, Ariz., Dec. 8, 2010 Sunridge International ... that Ameco Medical is preparing to start the short ... Ameco Medical Equipment L.L.C., Sunridge,s exclusive distributor for ... Bores, Sunridge,s medical consultant, to attend the start of ...
Cached Medicine Technology:Florida Metrology To Distribute OASIS Inspection Systems 2
... offers accuracy, speed, ease of use, ... is an Auto Refractor/Keratometer with both ... elevation, automatic alignment, focusing, printing, high-speed ... other features that have made the ...
Neomycin and Polymyxin B Sulfates and Hydrocortisone otic suspension, USP is a sterile antibacterial and anti-inflammatory suspension for otic use....
Neomycin and Polymyxin B Sulfates and Hydrocortisone ophthalmic suspension is a sterile antimicrobial and anti-inflammatory suspension for ophthalmic use....
Neomycin and Polymyxin B sulfates and Dexamethasone ophthalmic ointment is a multiple dose anti-infective steroid combination in sterile ointment form for topical applications....
Medicine Products: