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Auxilium Pharmaceuticals, Inc. Announces First Quarter 2011 Financial Results and Operational Highlights
Date:5/9/2011

MALVERN, Pa., May 9, 2011 /PRNewswire/ -- Auxilium Pharmaceuticals, Inc. (NASDAQ: AUXL), a specialty biopharmaceutical company, today announced financial results and operational highlights for the quarter ended March 31, 2011. For the first quarter of 2011, Auxilium reported net revenues of $58.4 million compared to net revenues of $45.5 million in the first quarter of 2010.  The net loss for the first quarter of 2011 was $(11.8) million, or $(0.25) per share, compared to a net loss of $(8.6) million, or $(0.18) per share, reported for the first quarter of 2010.

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"We are pleased with the steady progress we made in the first quarter of 2011.  XIAFLEX showed double-digit growth compared to the fourth quarter of 2010, our European partner, Pfizer, received EMA approval for XIAPEX® for Dupuytren's contracture and we signed an agreement with Asahi Kasei Pharma for development of XIAFLEX in Japan," said Armando Anido, Chief Executive Officer and President of Auxilium.  "We continue to be encouraged by the success stories that we receive from patients, physicians and payers on XIAFLEX use.  Testim also continues to perform well with 9% U.S. prescription growth year over year in the first quarter."  

First Quarter and Recent Operational Highlights: XIAFLEX:

  • Worldwide revenues for XIAFLEX were $12.3 million for the first quarter 2011, versus $1.3 million in 2010.
  • Net revenues of XIAFLEX in the U.S. were $10.5 million in the first quarter 2011.  The Company has, as expected, revised its revenue recognition methodology to record sales of XIAFLEX when units are sold to its distributors, rather than when those distributors ship to physician offices.  As a result, approximately $1.8 million in revenue previously deferred was recognized in the first quarte
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  • SOURCE Auxilium Pharmaceuticals, Inc.
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