Angiotech announces results for the fourth quarter ended Decembe...(y needle franchise among others; - ...)
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y needle franchise, among others;
- Improvements in gross margins as compared to 2007, driven by a
combination of expected improvements in product sales mix and the
expected completion of the consolidation and closure of our
operations in Syracuse, New York;
- Research and clinical expenses ranging from $45 to $50 million, with
expenses weighted to the first half of 2008, driven primarily by
continued clinical, manufacturing and pre-launch activities related
to our 5-FU CVC and Vascular Wrap(TM) product candidates;
- Sales and marketing expenses ranging from $50 to $60 million, driven
by the achievement of stated sales goals and the incurrence of a full
year of certain expenses related to the 2007 expansion of our sales
and marketing personnel;
- General and administrative expenses ranging from $40 to $45 million,
reflecting continued reductions in selected administrative expenses
as compared to 2007; and
- Capital expenditures ranging from $12 to $15 million.
Our financial outlook is forward-looking information, and actual
results may be materially different from any results, events or
developments expressed or implied by our financial outlook. We expect our
financial results may vary from the outlook provided as a result of several
key factors, including the progress of our various research, clinical
development and product launch initiatives, the achievement of selected
sales growth targets and the timing of product sales growth, the outcome of
various ongoing partnering, business development and financing discussions,
and the level of royalty revenues we receive from our partner BSC in future
periods and the impact such results may have on our election to pursue
certain discretionary aspects of our budgeted expenses in 2008. It is
expected that, at the present time, we will have adequate cash and
liquidi
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| SOURCE Angiotech Pharmaceuticals, Inc. Copyright©2008 PR Newswire. All rights reserved |
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