Novogen posts increased revenue

Pharmaceutical company Novogen (ASX:NRT) saw revenues of AUD$17.7 million for 2004-05, a 7.5 per cent increase on the previous year, and a net loss of $11.1 million.

Revenues included a five per cent increase in sales from consumer products from $12.7 million in the previous financial year to $13.4 million in 2004-05. Total expenses before interest and tax increased by $1 million to $29.9 million.

R&D expenses increased $1.9 million from the previous year to $10.2 million in 2004-05, with spending on the Novogen Group's human clinical trial program, including on its anti-cancer drug phenoxodiol, as well as cardiovascular and anti-inflammatory R&D.

In January 2005, Novogen settled its patent infringement suit against the US-based General Nutrition Corporation (GNC). In addition to receiving an undisclosed cash amount, GNC agreed to reinstate the sale of Promensil, a natural remedy for the symptoms of menopause, through its retail outlets.

Novogen's cash at 30 June 2005 was $47.3 million, a decrease of $11.1 million from 2003-04.