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Par Pharmaceutical Companies Reports Fourth Quarter and Full-Year Results for 2010
Date:2/24/2011

e and price due to competition.  Net sales for the full year were $31.2 million.
  • Tramadol ER:  Net sales for the fourth quarter 2010 were $6.1 compared to $5.5 million in the prior quarter.  Net sales for the full year were $22.6 million. Par Pharmaceutical remains one of only two suppliers of tramadol ER since its launch in November 2009.

  • Other generic products:  For the fourth quarter 2010, net sales from all other generic products were $68.2 million. When adjusted for certain events, fourth quarter net sales were $57.2 million. This compares to adjusted third quarter net sales of $62.2 million.  

  • Megace® ES:  Net sales were $14.8 million for the fourth quarter compared to $16.8 million in the third quarter.  The decrease was due to a decrease in volume and an increase in returns.  Net sales for the full year were $60.9 million.

  • Nascobal® B12 Nasal Spray:  Net sales were $4.8 million for the three months ended December 31, 2010 compared to $4.9 million in the third quarter.  Net sales for the full year were $17.7 million.

  • Total net revenues for the three months ended December 31, 2010, were $227.0 million compared to $290.3 million from prior year, principally driven by additional competition in metoprolol, meclizine, and clonidine.

    Gross margin for the fourth quarter 2010 increased compared to the prior year due primarily to the launches of omeprazole, diazepam, and hydrocodone polistirex and chlorpheniramine polistirex, as well as increases in other generic products.  These gains were partially offset by lower metroprolol, clonidine and meclizine sales and the impact of U.S. healthcare reform enacted in 2010.4Q 20104Q 2009$%$%Key Par (Generic) Products (1)$   42.7

    31.6%$   45.2

    21.6%All other Par (Generic)36.2

    53.1%27.0

    48.6%Total Par (Generic)$   78.9

    38.8%$
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    SOURCE Par Pharmaceutical Companies, Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

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