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Financial Report: AMRI

Contract revenue up 37%, driven largely by addition of Gadea Pharmaceuticals

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By: Kristin Brooks

Managing Editor, Contract Pharma

AMRI

2Q Revenues: $120.8 million (+35%)

2Q Loss: $21.3 million (earnings were $2.3 million in 2Q15)

YTD Revenues: $226.4 million (+32%)

YTD Loss: $31.3 million (earnings were $84K YTD15)

Comments: Contract revenue was $116.5 million in the quarter, up 37%, driven largely by the addition of Gadea Pharmaceuticals. Recurring royalty revenue was flat at $4.4 million. Research and development expenses were $3.5 million, up from $0.4 million in 2Q15, reflecting increased investment in collaboration agreements and API portfolio, and the addition of Gadea Pharmaceuticals.

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