NEW YORK (GenomeWeb News) – MDS today reported that its second-quarter revenues fell 21 percent and it swung to a loss from a profit year over year as soft spending markets took a toll on its top and bottom lines.

The Toronto-based firm brought in total revenues of $282 million for the three-month period ended April 30, compared to revenues of $350 million for the second quarter of 2008. It said that excluding the impact of foreign exchange, acquisitions, and divestitures its net revenue decreased 10 percent.

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Gene drives might run into biological resistance, the Economist reports.

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