Posted Mar. 15, 2011 at 7:01 a.m.
Trimeris
Trimeris posts $20M profit for 2010, but HIV drug sales fall
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Durham, N.C. — Trimeris (Nasdaq: TRMS) reported a drop in its HIV drug Fuzeon sales for 2010 but also improved its profit due in part to a renegotiated payment with LaRoche, the company said Monday.
Sales of Fuzeon fell to $88.4 million compared to $112.2 million in 2009.
However, Trimeris ended the year with a $20 million profit, or 89 cents a share, after the firm and LaRoche, which manufacturers and sells Fuzeon, made a deal “relieving” Trimeris of $18.7 million due in marketing expenses. Trimeris receives a lower royalty rate on Fuzeon as part of the deal.
For details on the Trimeris financials, read here.
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