Thursday, September 07, 2006

Biota - How to Lose Money on Bird Flu

Australia based Biota pulled revenues of $5.2m in royalties from the bird flu drug Relenza.

Unfortunately their battle with Glaxo Smith Kline has cost $8m over the last two years leaving meagre pickings for shareholders with yet another an annual net loss in excess of $10m.

Just how is it that in times of a pandemic of news and fear spreading, with governments speeding millions on vaccines for avian flu protection, can an organisation involved in bird flu vaccines be so successful at throwing away shareholder funds?

More from The Age

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