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Victoria-based pharmaceutical firm reports loss, but sees bright future


The increased loss came despite a $50-million deal with Japanese pharmaceutical firm Otsuka Pharmaceutical, which gave the Asian firm the right to develop and market Lupkynis in Europe and Asia.
Aurinia also reported it had cash, cash equivalents and investments of $423 million US, an increase of $117 million compared with last year. In a statement, Aurinia said it has sufficient financial resources to fund its current plans, which include funding commercial launch, manufacturing and packaging of commercial drug supply and conducting research and development into at least 2023.
Chief executive Peter ­Greenleaf said the company made strategic investments last year to build its commercial team, make the deal with Otsuka and secure manufacturing capacity to meet future demand. ....

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