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Financial Report: Patheon

Revenues up 40%, boosted by Banner

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon

2Q Revenues: $253.9 million (+40%)

2Q Earnings: $0.1 million (loss of $79.7 million 2Q12)

YTD Revenues: $467.4 million (+39%)

YTD Loss: $51.3 million (loss of $99.0 million YTD12)

Comments: CMO revenues were $219.5 million in the quarter, up 49%. Pharmaceutical Development Services (PDS) revenues were flat at $34.4 million, reflecting the impact of the sale of Patheon’s clinical packaging business to Bellwyck Packaging Solutions in fiscal 2012. The recent acquisition of Banner Pharmacaps contributed $54.6 million in the quarter, while Patheon’s non-Banner revenues grew 10%.

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