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2Q Financial Report: Patheon

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon

2Q Revenues: $189.9 million (+3%)

2Q Earnings: $3 million (-21%)

YTD Revenues: $347.8 million (+3%)

YTD Loss: $8.5 million (earnings were $9.8 million YTD2005)

Comments: Ebitda revenues were flat at $24.2 million for the quarter. YTD revenues were $38.2 million, down 17%. This decline was primarily due to lower revenues from a generic product, where the company’s client lost a major customer, and additional costs incurred as part of the corrective action plan to address FDA issues relating to Omnicef production.

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