Home | Business News | Browse by Publication | P | PR Newswire

American Pharmaceutical Partners Reports All-Time Record Sales of $124.5 Million, Record Second Quarter Earnings of $0.28 Per Share.

Article Excerpt
Second Quarter 2005 Highlights:

-- Quarterly net sales increased 27% to a record $124.5 million, including ABRAXANE(TM) net sales of $19.4 million and generic product net sales of $105.1 million

-- Second quarter gross margin increased to 55.4% versus 54.4% in the prior year second quarter

-- Net income increased 121% to a record $20.4 million, or $0.28 per diluted share

-- Company received four new product approvals representing a target market in excess of $115 million

Conference call scheduled for 10:00 a.m. EDT, Friday, July 22, 2005; Simultaneous webcast available at www.appdrugs.com and www.fulldisclosure.com

SCHAUMBURG, Ill., July 22 /PRNewswire-FirstCall/ -- American Pharmaceutical Partners, Inc. today reported record quarterly net sales of $124.5 million for the second quarter ended June 30, 2005, a 27% increase over net sales of $97.7 million in the 2004 second quarter. Second quarter 2005 results included net sales of ABRAXANE(TM), launched in February 2005, of $19.4 million and an 8% increase in core generic net sales to $105.1 million.

Net sales for the six-month period ended June 30, 2005, increased 31% to $245.2 million versus $186.8 million in the comparable period last year. First half 2005 results include net sales of ABRAXANE of $54.2 million and core generic net sales of $191.0 million.

Net income for the 2005 second quarter was $20.4 million, or $0.28 per diluted share, versus $9.2 million, or $0.13 per diluted...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!