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Par Pharmaceutical Reports Adjusted EPS of $0.49 for First Quarter 2009
Date:5/6/2009

he product launched. Through the first three months of 2009, Par remained the exclusive supplier of generic Imitrex(R) 4mg and 6mg starter kits and 4mg prefilled cartridges and had one competitor in the 6mg prefilled cartridges.

  • Meclizine: Net sales for the three months ended March 28, 2009 were $9.8 million compared to $10.8 million in the fourth quarter of 2008. Par was the exclusive supplier of meclizine in the first quarter of 2009.

  • Dronabinol: Net sales for the first quarter 2009 were $7.0 million. This compares to $6.4 million in the fourth quarter 2008. Through the first quarter of 2009, Par was one of two distributors of generic Marinol(R).

  • Other generic products: For the first quarter 2009, revenues from all other generic products were $43.0 million, a decrease of approximately $11 million from the fourth quarter 2008. The decline reflects a decrease in the number of products sold as a result of Par's discontinuation of less profitable products from its portfolio, a process that was refined in the fourth quarter of 2008.

  • Megace(R) ES: Net sales were $13.5 million for the three months ended March 28, 2009 compared with $19.7 million in the fourth quarter. The decrease in net sales was due primarily to the trade accelerating its Megace ES purchases in the fourth quarter before the holiday to the detriment of the first quarter. However, prescription levels were up slightly compared to the fourth quarter of 2008.

Total net revenues for the three months ended March 28, 2009, were $204.0 million, up $49.1 million, or nearly 32%, from the year ago period, principally driven by gains in metoprolol succinate, sumatriptan i
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SOURCE Par Pharmaceutical Companies, Inc.
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