WARSAW- Poland's troubled listed insulin maker Bioton BOTN.WA swung to a 20 million zloty ($6 million) net loss in the first quarter due to a drop in revenues and losses at subsidiaries.
The company's revenues dropped 19 percent to 90 million zlotys in the first quarter.
Additionally its earnings were hit by 16 million zlotys in losses generated by its foreign subsidiaries, mainly the Russian arm Bioton Wostok.
Bioton, one of the world's few human insulin producers, has been hit by concerns over its financial situation as the company heavily invested into an international expansion but failed to meet lofty goals tied with it.
(Reporting by Patryk Wasilewski; Editing by David Fox)