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MDS Proteomics Posts Widened Loss in 01; Sciex Enjoys Sales Surge

SAN FRANCISCO, Jan. 9 - MDS Proteomics reported on Wednesday a deep increase in losses in 2001 from 2000, while MDS' Sciex mass spec unit enjoyed a 12 percent surge in revenue year over year.


Speaking here at the 20th annual JPMorgan H&Q Healthcare Conference, Gary Goertz, MDS' chief financial officer and executive vice president for finance, said that the company's newly created proteomics unit ran a C$53 million loss in 2001 compared with a C$12 million the previous year.


He said that the business, which was launched in Toronto last November with some 200 employees, would post gradually improving balance sheets in the coming years. Its research collaborations with Agilent, IBM, and Abgenix—which also is a customer—will help propel that hope, Goertz said.


Sciex, MDS' mass spectrometry business, reported C$160 million in sales in 2001 compared with C$143 million in 2000. This business, which Goertz said covers roughly 60 percent of the world's market for mass spectrometers, got a boost from strong sales of its API 4000 product.


MDS also said that it has increased to 10 years the duration of its partnership with Applied Biosystems.


Last month, MDS Proteomics named Anil K. Amlani as CFO. According to the company, he will be responsible for "driving and maintaining further financial growth and development" and will report directly to Frank Gleeson, MDS Proteomics' president and CEO.

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