Charges lead to large first-quarter loss for Chiron
This article was originally published in Clinica
Executive Summary
Due to a $349 million charge mainly related to its partnership with Ciba, Chiron recorded a net loss of $386 million compared with net income of $4.8 million in the first quarter a year earlier. Sales jumped to $218 million from $91 million because of increased product sales through newly-acquired diagnostics subsidiary Ciba Corning and Chiron's full ownership of vaccine manufacturer Biocine.