During the fourth quarter of 2007, the Company received six generic product approvals in the U.S. from the FDA, including tentative approvals, and 39 approvals, representing 28 molecules, from regulatory bodies in Europe and in the ROW.
The Company currently has an extensive proprietary clinical development program that includes four products in Phase III studies and three New Drug Applications pending at the FDA.
Selling, General and Administrative
The Company's SG&A expenses for the quarter and year ended December 31, 2007 totaled $207 million and $764 million, respectively. SG&A for 2007 included a charge of $15.3 million for litigation related to the Ovcon(R) oral contraceptive product.
Interest Expense/Income and Other Income
During 2007, the Company recorded $159 million of interest expense, almost all of which is related to interest on the debt incurred in connection with the PLIVA acquisition. In addition, during 2007, the Company recorded interest income of $33 million and other income of $21 million.
During 2007, the Company recorded stock-based compensation expenses of $27.8 million, or $0.17 per share. For the fourth quarter of 2007, the Company recorded stock-based compensation expenses of $4.4 million, or $0.03 per share. The impact of stock-based compensation for the year and quarter ended December 31, 2007 is allocated among cost of sales, SG&A and R&D.
The Company's tax rate for the quarter and year ended December 31, 2007 was 28.1% and 31.1%, respectively. The tax rate for the year includes a one- time $9.6 million benefit from a reduction in deferred income taxes as a result of Germany's enactment of a lower corporate income tax rate.
The Company's cash, cash equivalents and marketable securities totaled
approximately $551 million. At December 31, 2007, the Comp
|SOURCE Barr Pharmaceuticals, Inc.|
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