Swiss pharmaceutical firm Actelion Ltd. (ALIOF.PK) reported a plunge in its first-quarter GAAP net income to 45.06 million Swiss francs or 0.38 Swiss francs per share from the prior year's 146.29 million Swiss francs or 1.20 Swiss francs per share. Core earnings per share declined 31% to 0.66 Swiss francs during the latest quarter.
Total net revenue slipped to 417.47 million Swiss francs from 528.23 million Swiss francs a year earlier.
Product sales for the quarter reached 415.8 million Swiss francs, compared with 450.1 million Swiss francs last year, down by 4% in local currencies. In addition, the company reaffirmed its 2012 flat core earnings forecast.
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by RTT Staff Writer
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