Biotechnology company Crucell disheartened analysts across the board on Tuesday with disappointing Q4 figures. Crucell posted a loss of €24.9m in the last three months of 2006. The company had been forced to take a €33.5m provision for write-offs and a reorganisation.

Over the full year, Crucell’s loss totalled €87.6m, compared with a loss of €15.6m in 2005. Sales rose from €37.6m to €140.9m following the takeover of Swiss vaccination maker Berna Biotech.