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AMRI

Development/Small Scale revenues show first growth since 4Q08

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By: Tim Wright

Editor-in-Chief, Contract Pharma

AMRI 4Q10

4Q Revenues: $48.6 million (+12%)

4Q Loss: $49.1 million (loss of $19.2 million in 4Q09)

FY Revenues: $198.1 million (+1%)

FY Loss: $62.9 million (loss of 16.7 million in FY09)

Comments: Contract revenues rose 16% in 4Q10 to $40.7 million, including a 48% bump in Large Scale Manufacturing to $19.1 million. Development/Small Scale Manufacturing revenues were up 12% to $10.5 million, marking the first quarter since 4Q08 to show growth. Discovery services dropped 13% to $11.1 million. For FY, Discovery services were down 2% to $46.8 million, Development/Small Scale Manufacturing was down 4% to $36.5 million, and Large Scale Manufacturing revenues were up 13% to $79.9 million. Allegra royalties were flat at $34.8 million. In 4Q10, AMRI took a $1.2 million charge related to an FDA warning letter received by its Burlington, MA parenteral dosage facility.

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