Pharmaceutical company ReGen Therapeutics said it will not achieve sustainable profitability until 2010. Up until recently the group said it would reach profitability in the current year. "The credit crunch has had a severe impact on the business of our appointed and potential distributors and therefore on our development in the key markets of the USA and India," said the group."Consequently we now believe that we will not achieve sustainable profitability until 2010," it added. In 2008, the group lost £1.51m before tax for continuing operations compared with £2.59m in 2007. ReGen expects losses to decrease by another £1m in 2009.Research and Development costs fell by 59% during the year ended 31 December 2008 to £330,274.