« Return to News | CROs/Service Providers

Averion’s 2008 Revenues Up 90%, Net Loss Increases by $33.5M

Thursday, April 2, 2009 08:00 AM

Full-year 2008 revenues for oncology CRO Averion increased 90% over 2007, thanks in large part to an increase in European activity and the October 2007 acquisition of Hesperion, a clinical research organization based in Switzerland. Net service revenues in 2008 were $66.4 million, compared with $34.9 million in 2007.

"We were very pleased to have recorded $35.9 million of net revenues in Europe during 2008, which represents an all-time record for our European operations. During the twelve months ended December 31, 2008, we began to see the positive impact of our expanded global footprint in the number of new business opportunities we have been asked to bid on,” said CEO Markus Weissbach, M.D., Ph.D., in a company statement.

The company’s net loss from continuing operations also increased to $37.4 million or $0.06 per share, from $3.9 million, or $0.01 per share, in 2007. This increase was principally due to non-cash charges of $31.3 million incurred for the impairment of goodwill and certain finite life intangibles.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

December 17

Medici Global says its Alzheimer's Facebook page demonstrates the need for more early detection trials

Analysts: Expect more equity purchases of CROs in 2013

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

January 2013

Parexel celebrates 30 years of change, growth
CRO's founder and chairman reflects on challenges of the past, present and future

Strategies for increasing patient diversity in trials
Sponsors look to improve racial, ethnic recruitment without going overseas

Already a subscriber?
Log in to your digital subscription.

Purchase the January issue.

Subscribe to The CenterWatch Monthly.

December 2012

Publicity, regulation tightening reins on use of KOLs
Debate rages over need to revamp how sponsors use, pay medical experts

Time may be right to makeover the investigator brochure
Size, complexity prevent critical document from being thoroughly read

Already a subscriber?
Log in to your digital subscription.

Purchase the December issue.

Subscribe to The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.