UPDATE 1-Contract drugmaker Patheon's loss widens on charge
June 13 |
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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