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Financial Report: AMRI

Recent acquisitions boost revenues

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By: Kristin Brooks

Managing Editor, Contract Pharma

AMRI
 
3Q Revenues: $104.6 million (+67%)

3Q Loss: $4.2 million (loss of $8.6 million 3Q14)

YTD Revenues: $275.9 million (+45%)

YTD Loss: $4.1 million (loss of $1.4 million YTD14)

Comments: Contract revenue for the quarter was $101.4 million, up 76%. Discovery and Development Services (DDS) contract revenue was up 35% to $23.1 million, primarily due to $4.6 million of incremental revenues from the acquisition of SSCI in February 2015. API contract revenue was up 84% to $56.2 million, primarily due to $17.8 million of revenues from the acquisition of Gadea Pharmaceuticals in July 2015 and product mix. Revenues also benefited from cost reduction initiatives and facility optimization activities. Royalty revenue in the quarter was $3.2 million, a decrease of 35% due primarily to lower royalties on Allegra (fexofenadine) products, which have ended.

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