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Financial Report: Patheon 2Q12

CMO revenues up 6% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon
 
2Q Revenues: $181.5 million (+7%)
 
2Q Loss: $79.7 million (loss of $10.4 million in 2Q11)
 
YTD Revenues: $335.4 million  (-3%)
 
YTD Loss: $99.1 million (loss of $6.8 million YTD11)
 
Comments: Commercial manufacturing revenues for the quarter increased 6% to $147.0 million. Pharmaceutical Development Services revenues were up 10% to $34.5 million due to increased development activities from new contracts across most sites. Loss in the quarter increased due to the after-tax impact of previously announced impairment charges of $57.9 million and repositioning expenses of $4.9 million, as well as $4.7 million from the consulting fees related to strategic initiatives.

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