MADRID, March 2 Spanish drugs company Faes Farma
reported a 2.5 percent fall in 2006 net profit on Friday, but
said it could be selling its antihistamine drug Bilastina in
some countries by next year.
Faes said it was in advanced negotiations with drug
companies in Europe, which should be concluded in the second
quarter of the year, to sell Bilastina in some countries by
It said negotiations with drug companies on selling the drug
in Asia had recently begun and should bear fruit this year or
In November Faes reached an $89 million deal with Inspire
Pharmaceuticals ISPH.O to develop and distribute Bilastina in
North America. Faes has said it expects to apply for U.S.
approval at some point this year to sell the antihistamine in
the world's largest drugs market.
Net profit for 2006 slipped to 22.6 million euros, it said
on Friday. Sales were up 11.3 percent to 185.2 million and
EBITDA increased 12 percent to 38.2 million.
Partner Inspire estimates that annual sales of Bilastina
could top $200 million.