Spanish drug maker Zeltia trims first half losses

MADRID, July 31 (Reuters) - Spanish pharmaceutical and chemicals company Zeltia SA (ZEL.MC) trimmed first-half losses by 40 percent to 12.4 million euros ($19.37 million) on Thursday and boosted revenues thanks to strong sales of its anti-cancer drug, Yondelis.

Zeltia said sales rose 21 percent to 54.2 million thanks to its soft-tissue sarcoma drug Yondelis, which its PharmaMar unit began selling at the end of last year.

It said Yondelis sales of 13.5 million euros were 35 percent above company forecasts and it would maintain a full year target of 30 million euros.

Later this year, Zeltia plans to launch Yondelis in a handful of European Union countries where authorities have not yet set a price for the drug.

Losses at the EBITDA level (earnings before interest, tax, depreciation and amortisation) slimmed to 10.3 million euros from 19.9 million a year earlier.

Zeltia shares closed 2.6 percent lower at 3.81 euros on Thursday after falling 37.6 percent in the year to date and underperforming the DJ European Stoxx health care sector .SXDP by 31 percent.

The company added it would publish results from Phase III trials of Yondelis in the treatment of ovarian cancer before a conference from Sept 12 to 16 and, based on the results, would apply for regulatory approval before the year's end. (Reporting by Ben Harding and Robert Hetz; Editing by Andre Grenon)