Italy’s Cosmo Pharmaceuticals says that royalty and milestone income from its contract drug manufacturing business will return to growth this year after dropping for the quarter ended December 31.
The firm, which reported a 56 per increase in revenue to €34m ($46m) from the contract manufacture of products based on its multi matrix (MMX) delivery technology, predicted that the platform would continue to drive growth this year.
On a more downbeat note the firm said that its non-MMX contract manufacturing earnings fell 8.3 per cent to €12.4m and added that it does not anticipate signing any agreements before 2010.
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