February 26, 2009 / 12:32 PM / 9 years ago

UPDATE 1-Labopharm loss deepens on legal fees

* Loss per share C$0.26 vs year-earlier loss C$0.18

* Revenue rises 68 pct

* Quarter included C$4.8 mln legal fee

(Adds details)

TORONTO, Feb 26 (Reuters) - Labopharm DDS.TO reported a bigger quarterly loss on Thursday, hurt mainly by legal fees from the U.S. patent enforcement of its key drug.

The small Canadian biotech company, which is set to roll out its tramadol pain treatment in the United States later this year, said its fourth-quarter loss widened to C$14.7 million ($11.7 million), or 26 Canadian cents a share, from C$10 million, or 18 Canadian cents a share, a year earlier.

Revenue rose 68 percent to C$4.4 million, helped by sales of tramadol.

The company said the results included an accrual of C$4.8 million for the company’s share of litigation costs incurred by Purdue Pharma to enforce its U.S. patents related to Labopharm’s once-daily tramadol product. The treatment received U.S. regulatory approval in late December. ($1=$1.25 Canadian) (Reporting by Scott Anderson; Editing by Lisa Von Ahn)

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