Unigene Labs posts record revenue of $14.28 million for 2005

By Lisa Kerner

Erie, Pa., March 17 - Unigene Laboratories, Inc. said it had record revenue of more than $14 million in 2005.

The company reported its financial results for the year ended Dec. 31.

Revenue for the year was $14.28 million, compared with $8.4 million for the year ended Dec. 31, 2004.

The company's net loss for the year was $496,000, or $0.01 per share, compared with a net loss of $5,941,000, or $0.08 per share, for the previous year.

"During 2005 we received FDA approval for our first U.S. product, Fortical, and prescriptions have increased each month," president and chief executive officer Warren P. Levy said in a company news release.

"According to Verispan, in January Fortical achieved an approximate 26% market share of new calcitonin prescriptions and approximately 22% of total prescriptions, representing more than 30,000 prescriptions per month. The increase in total prescriptions from December to January was approximately 27%, suggesting that Fortical sales are growing at a significant rate."

Fairfield, N.J.-based Unigene is a biopharmaceutical company focusing on the oral and nasal delivery of large-market peptide drugs.

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