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Drug firm reports net loss for year

Drug firm reports net loss for year

Drug discovery and manufacturing company Regeneron Pharmaceuticals, which has a manufacturing plant

Drug discovery and manufacturing company Regeneron Pharmaceuticals, which has a manufacturing plant in East Greenbush, posted fourth-quarter and year-ending losses earlier this week in regulatory filings with the U.S. Security and Exchange Commission.

According to filings, Tarrytown-based Regeneron had a net loss of $13.1 million for the fourth quarter, less than half its $31 million loss for the fourth quarter of 2006. For all of 2007, Regeneron had a net loss of $105.6 million, compared with $102.3 million in 2006.

Regeneron’s total revenue increased to $64.7 million in the fourth quarter of 2007, up from $10.3 million in the same quarter of 2006, and to $125 million for all of 2007, nearly double the $63.4 million in 2006.

Friday, Regeneron officials announced the company has received U.S. Food and Drug Administration approval to market its new drug “Arcalyst,” which is designed to treat auto-inflammatory conditions.

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