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US Neurocrine reports USD9.5m profit in Q4  Join our daily free Newsletter

MENAFN - 09/02/2013

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(MENAFN) Clifornia-based Neurocrine Biosciences Inc. reported higher fourth quarter profits, as Elagolix, an experimental treatment for endometriosis pain added more revenue, AP reported.

The drug developer said it made USD9.5 million net profit during the last quarter of 2012, up from USD1.3 million a year earlier. Revenue nearly doubled to USD21.9 million.

Elagolix is the most advanced product in its pipeline of drugs under development. Abbott Laboratories spinoff AbbVie Inc. is conducting a late-stage study of the drug as a possible endometriosis treatment, and it also is being studied in a mid-stage trial as a uterine fibroids treatment.

Research and development costs rose by 14 percent in the quarter to USD9.1 million, and general and administrative expenses rose as well, the company said.

Aside from endometriosis, Neurocrine also is developing potential treatments for uterine fibroids, stress-related disorders, pain, diabetes and insomnia.

 






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