Columbia Labs
This article was originally published in The Tan Sheet
Executive Summary
Net sales fell 62.5% to $2.7 mil. for the second quarter, leading to a net loss of $1.2 mil. compared to net income of $1.2 mil. in the year-ago period, the Aventura, Fla.-based firm announces Aug. 10. The company attributes the poor performance to low sales of its Rx drug Crinone due to a switch in marketing partners. Sales of the Advantage-S spermicide were not listed; a recent Joint U.N. Program on HIV/AIDS showed the nonoxynol-9 gel is not effective at preventing HIV. Columbia has disputed the results and demanded an outside review (1"The Tan Sheet" June 19, p. 4)
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