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People & Business :: Companies
Cambrex’s Fourth-Quarter Loss Widens
February 11, 2010 | Deepti Ramesh
Cambrex (East Rutherford, NJ) reported a net loss of $2.8 million for the fourth quarter of 2009, compared with a net loss of about $1 million in the fourth quarter of 2008. Net sales decreased by nearly 10%, to $57.9 million. The fall in sales, was mainly due to lower volumes of an active pharmaceutical ingredient (API) that utilizes Cambrex’s polymeric drug delivery technology, lower sales of two APIs manufactured under long-term supply agreements and lower custom development revenues, Cambrex says. Volumes of a feed additive for which a contract expired...
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