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UPDATE 1-Contract drugmaker Patheon's loss widens on charge

June 13 | Wed Jun 13, 2012 8:12am EDT

June 13 (Reuters) - Contract drugmaker Patheon Inc's quarterly loss widened to $79.7 million due to an impairment charge of $57.9 million related to its Swindon plant in the United Kingdom.

The 61.7 cents per share loss compares with 8.1 cents a year earlier when the company lost $10.4 million.

Patheon said in May it would take an impairment charge of $50-$60 million related to restructuring of its Swindon plant.

Revenue for Patheon, which provides contract development and manufacturing services to the pharmaceuticals industry, rose 7 percent to $181.5 million.

The company said it sees 2012 revenue above $725 million, compared with $700 million in 2011.

Patheon had forecast 2012 revenue to be modestly higher than fiscal year 2011 in December.

Shares of the company closed at C$1.89 on Tuesday on the Toronto Stock Exchange.

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