February 14, 2008 / 1:20 PM / 10 years ago

Angiotech results hurt by royalty revenues

(In U.S. dollars)

    TORONTO, Feb 14 (Reuters) - Angiotech Pharmaceuticals Inc ANP.TO ANPI.O reported a fourth-quarter loss that nearly doubled on Thursday, because of falling royalty revenues for its drug-coated stents.

    Angiotech, which makes the coating for Boston Scientific Corp.’s (BSX.N) stents, said it lost $21.3 million, or 20 cents a share, during the quarter, compared with a loss of $11.7 million, or 6 cents a share, for the same period last year.

    Adjusted results, which exclude noncash and nonrecurring items, showed a loss of $7.5 million, or 9 cents, for the quarter. That compares with a profit of $12 million, or 14 cents, a year earlier. ($1=$1.00 Canadian) (Reporting by Scott Anderson; Editing by Renato Andrade)

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