Warner Chilcott Reports Operating Results for the Quarter Ended September 30, 2008 and Updates 2008 Full Yea...(ter of 2008 includingour authorized gene...),Health
ter of 2008, including our authorized generic, and, in part, due to customers switching to other therapies.
Net sales of our hormone therapy products decreased $0.6 million, or 1.4%, in the quarter ended September 30, 2008 as compared to the prior year quarter. Net sales of ESTRACE CREAM increased $1.7 million, or 9.5%, in the quarter ended September 30, 2008 compared to the prior year quarter. The increase was primarily due to higher average selling prices, which were partially offset by a contraction of pipeline inventories relative to the prior year quarter. Net sales of FEMHRT decreased $2.2 million, or 13.2%, in the quarter ended September 30, 2008 compared to the prior year quarter, due to a 15.1% decrease in filled prescriptions, which was offset partially by higher average selling prices.
Net sales of SARAFEM decreased $8.2 million, or 79.9%, in the quarter ended September 30, 2008 compared to the prior year quarter, due primarily to a 66.1% decline in filled prescriptions. Generic versions of SAFAFEM capsules were introduced in May 2008 and negatively impacted our net sales of SARAFEM during the quarter ended September 30, 2008.
Cost of Sales (excluding amortization of intangible assets)
Cost of sales increased $1.3 million, or 2.9%, in the quarter ended September 30, 2008, compared with the prior year quarter. Our gross profit margin, as a percentage of total revenue, decreased to 79.8% in the quarter ended September 30, 2008 from 79.9% in the prior year quarter.
Selling, General and Administrative ("SG&A") Expenses
SG&A expenses for the quarter ended September 30, 2008 were $45.9
million, a decrease of $14.9 million, or 24.4%, from $60.8 million in the
prior year quarter. Advertising and promotion ("A&P") expenses for the
quarter ended September 30, 2008 decreased $2.1 million, or 17.8%, compared
with the prior year quarter, primarily due to a $1.6 million decrease in
direct-to-consumer advertising, as well as an
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| SOURCE Warner Chilcott Limited Copyright©2008 PR Newswire. All rights reserved |
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