Angiotech Pharmaceuticals, Inc. announces financial results for the second quarter ended Jun...( VANCOUVER Aug. 6 / Angiotech Pharmace...)

VANCOUVER, Aug. 6 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) today announced its financial results for the second quarter ended June 30, 2009.

"We were pleased to observe continued sales growth in our Proprietary Medical Products business during the quarter, including continued acceleration of our important Quill(TM) SRS and HemoStream(TM) product lines," said Dr. William Hunter, President and CEO of Angiotech. "Despite the continued challenges we are experiencing in certain parts of our Base Medical Products business, the continued stabilization of our TAXUS(R)-derived royalty revenue, the possibility that Cook's Zilver(TM) paclitaxel-eluting peripheral stent may contribute additional royalty revenue and the recent FDA approval of our Option(TM) Inferior Vena Cava Filter leave us optimistic about the second half of 2009 and 2010."

    Second Quarter Financial Highlights

    -   Total revenue was $64.6 million.

    -   Net product sales were $47.2 million. Sales of our Proprietary
        Medical Products were $13.5 million, or 29% of total product sales.
        Sales of our Base Medical Products were $33.7 million, or 71% of
        total product sales.

    -   Royalty revenue was $17.0 million.

    -   Adjusted EBITDA (earnings before interest, taxes, depreciation and
        amortization, adjusted to exclude certain non-cash and non-recurring
        items) was $12.6 million.

    -   Research and development expenses were $6.8 million, and as adjusted
        to exclude non-cash stock-based compensation expenses and other non-
        recurring costs were $6.1 million.

    -   Selling, general and administrative expenses were $21.6 million, and
        as adjusted to exclude non-cash stock-based compensation expenses,
        certain litigation costs, non-recurring fi
'/>"/>
SOURCE  Angiotech Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

1

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 
Related biology technology :

1. Angiotech announces additional diameters of sutures to further expand its Quill(TM) SRS PDO product line
2. Angiotech receives favourable patent decision from New Zealands Intellectual Property Office
3. Angiotech reaches agreement with Johnson & Johnson to settle outstanding patent litigation
4. Angiotech to participate in UBS Global Life Sciences Conference
5. Angiotech announces intent to file 510(k) for its innovative 5-FU Central Venous Catheter (CVC) based on positive results from pivotal trial
6. Angiotech Receives CE Mark Approval of Quill(TM) SRS MONODERM(TM), a New Rapidly Resorbing Suture Product Line
7. Angiotech announces preliminary third quarter financial results and updates fiscal 2007 outlook
8. Angiotech to participate in Bank of America 2007 Credit Conference
9. Angiotech to participate in RBC 2007 Healthcare Conference
10. Angiotech Submits 510(K) To FDA For Its Innovative 5-FU CVC
11. Athersys and Angiotech announce authorization of Phase I intramyocardial stem cell U.S. clinical trial in acute myocardial infarction