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Labopharm Reports Results for First Quarter Fiscal 2009
Date:5/7/2009

om $3.2 million for the first quarter of fiscal 2008. Revenue from sales of the Company's once-daily tramadol product for the first quarter of fiscal 2009 increased to $3.8 million from $2.2 million for the first quarter of fiscal 2008. Adjusted gross margin for the first quarter of fiscal 2009 was 57% compared with 58% for the first quarter of fiscal 2008. Research and development expenses, before research and development tax credits, for the first quarter of fiscal 2009 were $4.3 million compared with $6.9 million for the first quarter of fiscal 2008. Selling, general and administrative expenses for the first quarter of fiscal 2009 were $6.7 million compared with $4.9 million for the first quarter of fiscal 2008 and included an accrual of $0.7 million for the Company's share of litigation costs related to patent enforcement following approval of its once-daily tramadol product in the U.S. Net loss for the first quarter of fiscal 2009 was $8.0 million, or $0.14 per share, compared with $9.7 million, or $0.17 per share, for the first quarter of fiscal 2008.

    Recent Developments

    Once-Daily Tramadol

Product Ranked Number One in New-to-Brand Prescriptions in Canada - Labopharm's product (marketed under the brand name Tridural(TM) in Canada) ranked number one among tramadol products (excluding combination products) in terms of new-to-brand prescriptions in Canada for the first quarter of 2009. Market share for Labopharm's product among tramadol products (excluding combination products) in Canada for the same period was 36%. The number of prescriptions written for Labopharm's product in Canada for the first quarter of 2009 increased 19% compared to the fourth quarter of 2008.

In-Market Sales in Europe Continue to Grow - In-market sales of Labopharm's product in Europe(1) grew 9% for the first two months of 2009 compared to the same period of 2008. Sales to European marketing partners are continuing to p
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SOURCE Labopharm Inc.
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