Stephen J. Turner, SCOLR Pharma's President and CEO, said: "While the recent news concerning our ANDA for extended-release pseudoephedrine was disappointing, we remain confident about the quality of our formulation. Our patented technology, which has been successfully utilized in nutritional products, continues to have application for OTC and prescription drug products approved by the FDA. Our plan is to address our immediate liquidity requirements and to continue with the development of our nutritional supplement products business, advance our ibuprofen product and pursue opportunities to license or collaborate with pharmaceutical companies and retailers."
Twelve Months 2010 compared to Twelve Months 2009 Financial ResultsTotal revenues decreased 34%, or $317,000, to $618,000 for the twelve months ended December 31, 2010, compared to $935,000 for the same period in 2009. This decrease is primarily due to a reduction in royalty revenue from the Company's relationship with Perrigo Company following the discontinuance by several retailers of Perrigo's licensed products.
For the twelve months ended December 31, 2010, the Company's marketing and selling expenses increased 38%, or $110,000, to $399,000 compared to $289,000 for the comparable period in 2009. This increase is primarily due to an increase in sales and marketing activities related to the future direct sale of our nutritional products.
General and administrative expenses decreased 49%, or $2.4 million, to $2.5 million for the twelve
|SOURCE SCOLR Pharma, Inc.|
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