May 7, 2009 / 1:08 PM / 8 years ago

UPDATE 1-Labopharm Q1 loss narrows

2 Min Read

* Q1 loss C$0.14 vs year-ago loss C$0.17

* Revenue rises 54 pct to C$5.0 mln

* Launches once-daily pain drug tramadol in the U.S.

* Tramadol revenue rises 73 pct to C$3.8 mln

May 7 (Reuters) - Labopharm Inc DDS.TO posted a narrower quarterly loss, helped by higher revenue from its pain drug, and said it was launching its once-daily tramadol pain treatment in the United States.

The small Canadian biotech company said tramadol is distributed in the United States by Purdue Pharma Products L.P. under the brand name Ryzolt.

For the first quarter, the company posted a net loss of C$8.0 million, or 14 Canadian cents a share, compared with C$9.7 million, or 17 Canadian cents a share, a year earlier.

Revenue rose 54 percent to C$5.0 million, driven by a 73 percent rise in tramadol sales.

Analysts on average expected a loss of 16 Canadian cents a share, excluding special items, on revenue of C$5.1 million, according to Reuters Estimates.

Shares of the company closed at C$1.56 Wednesday on the Toronto Stock Exchange.

For the alerts, double-click [ID:nWNAB5237] (Reporting by Anand Basu in Bangalore; Editing by Mike Miller)

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