Liposome's strategic review

LIPO disclosed in its earnings announcement that it has retained Warburg Dillon Read to advise it on strategic alternatives, including merger, acquisition and/or in-licensing of products. CFO Lawrence Hoffman told BioCentury that the potential alternatives could include the sale of the company.

The company's 1999 revenues increased 19 percent to $92.5 million from $77.9 million in 1998. Sales of Abelcet liposomal amphotericin B to treat fungal infections were $86.2 million in 1999, a 17 percent increase over 1998's $73.5 million. Net income for 1999 was $13.1 million ($0.32) compared to a loss of $4.7 million ($0.12) in 1998. LIPO had $71.3 million in cash at year end. ...