Actelion announces big loss

Actelion announces big loss

Basel-based Actelion, Europe’s largest biotech company, has posted a net loss of 146.3 million Swiss Francs ($159.5 million) for 2011 – after a 2010 profit of 390.6 million Francs, Swiss Info reported.

The group had warned earlier this year that its results would be hit by the strong franc and legal costs linked to a licensing dispute with Japanese group Asahi Kasei. Experts had expected an average loss of 114 million Francs.

Actelion achieved product sales of more than 1....

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