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Financial Report: Akorn

Revenues up 22% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Akorn
 
2Q Revenues: $77 million (+22%)

2Q Earnings: $12.6 million (+30%)

YTD Revenues: $150.9 million (+31%)

YTD Earnings: $23.5 million  (+84%)

Comments: Growth in the quarter was primarily the result of sales of new products launched late in 2012, increases in sales for existing products, partially offset by decreases in average sales price for existing products and lower sales from it subsidiary in India, Akorn India Private Ltd. In the quarter, Akorn launched Clindamycin Phosphate Injection in 5% Dextrose premix in three strengths, and began commercial operations at its expanded ophthalmic manufacturing plant in Somerset, NJ.

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