Cerep sales flat in the first half

Sales revenues at the French pharmaceutical services firm Cerep were flat during the first half of the year, totalling €14.2 million compared with €14.98 million in the first half of 2007, although at constant exchange rates revenues would have increased by 3.5% to €15.5 million. In vitro ADME activities at its US subsidiary showed a 44.8% increase, while revenues from pharmacological profiling dropped by 5.6% at constant exchange rates. The financial results were affected by budgetary restrictions at some pharmaceutical companies, and by delays in the start of some multiyear collaboration contracts, Cerep says. Consolidated EBITDA from continuing activities was €0.49 million compared with €1.48 million in the previous six-month period. In April, Cerep entered a supply and co-marketing agreement with Perkin Elmer on target screening and profiling services, and in May it opened an additional 10,200 ft2 of laboratories and offices in Redmond, Washington.