1,414.11,172.34,446.13,367.2Operating expenses:Cost of sales
809.3652.02,428.41,817.8Research and development
90.460.3255.6227.7Selling and marketing
27.2%35.6%33.3%34.6%Adjusted gross profit (1)
,551.2Adjusted gross margin
46.7%43.8%46.6%46.2%(1)Adjusted gross profit represents adjusted net revenue less adjusted cost of sales and excludes amortization of acquired intangibles. Pro forma adjustments for the respective periods include the following: Settlement of contingent asset acquired as part of a
business acquisition (other revenue)
(7.4)Net revenue from payment received relating to
previously divested business
(2.4)Operational Excellence Initiative
18.104.22.168.4Acquisition accounting adjustments
46.7(7.8)46.72.2Actavis Pharma net revenue for the fourth quarter 2012 increased 21 percent to $1.4 billion primarily as a result of the inclusion of legacy Actavis as of November 1, 2012, and increased sales related to new products in key markets including generic versions of Lovenox®, Xopenex® and Adderall XR® in the U.S. This partially offset lower U.S. sales of the generic versions of Lipitor® and Toprol XL®. Fourth quarter international net revenue was $524.7 million, up 245 percent from the fourth quarter 2011, primarily as a result of the inclusion of legacy Actavis results.
Actavis Pharma R&D investment for the fourth quarter 2012 increased 50 percent to $90.4 milli
|SOURCE Actavis, Inc.|
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