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Financial Report: Patheon

Banner acquisition boosts revenues

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon
 
1Q Revenues: $213.5 million (+39%)
 
1Q Loss: $51.4 million (loss of $19.3 million 1Q12)
 
Comments: Banner contributed $23.3 million to growth in the quarter. Patheon standalone revenues grew 24%. CMO revenues increased 47% to $180.1 million. Pharmaceutical Development Services’ (PDS) revenues increased 7% to $33.4 million. The increase in loss was due to costs associated with the Banner acquisition and related refinancing.

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