November 11, 2010 / 1:06 PM / 8 years ago

UPDATE 1-Labopharm posts wider loss, revenue rises

* Revenue rises 45 percent

* Expects Canadian decision on antidepressant drug

TORONTO, Nov 11 (Reuters) - Canada’s Labopharm Inc DDS.TO, which specializes in controlled-release drugs, posted on Thursday a wider net loss as higher sales and marketing expenses offset improved revenue.

For the third quarter, Labopharm posted a net loss of C$7.2 million, or 10 Canadian cents a share. This compared with a net loss of C$6.9 million, or 12 Canadian cents a share, for the same quarter a year earlier.

Revenue was up 45 percent, at C$9.6 million, bolstered by C$3.7 million in licensing-related payments and deferred revenue.

The company also said it is anticipating a Canadian decision by the end of the year on its drug submission for once-daily antidepressant drug, trazodone. ($1=$1 Canadian) (Reporting by Solarina Ho, editing by Gerald E. McCormick)

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