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Financial Report: Catalent

Medication Delivery segment drives growth in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Catalent

2Q Revenues: $455.8 million (+3%)

2Q Earnings: $46.5 million (loss of $19.5 million 2Q13)

YTD Revenues: $874.1 million (+2%)

YTD Earnings: $27.0 million (loss of $17.7 million YTD13)

Comments: Growth in the quarter was driven by the Medication Delivery Solutions segment and the modified release technologies business within the Oral Technologies segment, as well as increased demand for analytical services within the Development and Clinical Services. Oral Technologies revenue was $277.2 million in the quarter, down 3% related to lower end-market demand for certain customer products using the company’s softgel technology. Development and Clinical Services revenue was $107.8 million, up 6% driven by integrated oral solids development and manufacturing capabilities, and higher project volumes in the U.S. Medication Delivery Solutions revenue was $73.7 million, up 33% attributable to timing of order patterns, contractual settlements, increased demand for blow-fill-seal products, injectable products, and biologics.

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