Viratek’s Losses Up for Fourth Quarter and Year

Viratek Inc., the research and development subsidiary of ICN Pharmaceuticals in Costa Mesa, last week reported losses of $1.3 million for the final quarter of 1985 and losses of $2.8 million for the full year.

The losses are considerably higher than the year before. In the final quarter of the 1984 fiscal year, losses were $1 million and full year losses were $2 million.

Revenues for the period ended Nov. 30, 1985, were $433,000, up 73% from the $250,000 posted the year before. For the full year, revenues were $2 million, up 107% from the $960,000 recorded in the prior year.

In a prepared statement, the company said that despite the rise in income, research and development costs increased 63% to $3.5 million in the 1985 fiscal year from $2.2 million in fiscal 1984.