"In our Actavis Specialty Brands business, we experienced growth from U.S. sales of key promoted products including Generess® Fe, Rapaflo®, Crinone® and Androderm®. We also continued to build our Specialty Brands pipeline for future growth. In January, we acquired Uteron Pharma SA which significantly enhanced our Specialty Brands development portfolio in Women's Health worldwide. In February, we filed our progestin-only patch contraceptive product with the FDA ahead of schedule. In April, we announced a strategic agreement with Valeant that will maximize the commercial value of Actavis' Cordran® Tape and Valeant's Zovirax® cream 5% through co-promotion agreements and earlier this week we licensed in Metronidazole 1.3% Vaginal Gel, capitalizing on the commercial reach of our specialty brand sales force," Bisaro continued.
"As a result of the strong performance of our global businesses during the first quarter, we are now increasing our forecast for 2013 Non-GAAP earnings per diluted share in the range of $8.10 - $8.50, representing growth of 35 to 42 percent over 2012," concluded Bisaro.
First Quarter 2013 Business Segment Results Actavis Pharma Segment InformationThree Months EndedMarch 31,(Unaudited; $ in millions)20132012Product sales
1,533.81,116.1Operating expenses:Cost of sales
861.9614.2Research and development
98.856.1Selling and marketing
27.0%35.7%Adjusted gross profit (1)
503.6Adjusted gross margin
50.7%45.1%(1)Adjusted gross profit
|SOURCE Actavis, Inc.|
Copyright©2012 PR Newswire.
All rights reserved