Endo reports 2009 profits
CHADDS FORD, Pa. Endo Pharmaceuticals saw profits of $334.3 million in 2009, a 9% increase over 2008’s $305.7 million, according to the drug maker’s annual financial report.
The profit increase came on the back of a 16% increase in sales, from $1.26 billion to $1.46 billion, during the same period. Profits for fourth quarter 2009 increased by 11%, from $86.1 million to $95.1 million. This included $29 million in generic drug sales during the quarter, compared with $24 million in fourth quarter 2008.
“We had an excellent year with record revenues and earnings,” Endo president and CEO Dave Holveck said. “Not only did we continue to build a strong base business, we also expanded our therapeutic focus beyond pain into urology and oncology.”
Among branded pain drugs Lidoderm (lidocaine), and Frova (frovatriptan succinate) had decreases in sales, with Lidoderm sales going from $205 million in fourth quarter 2008 to $204 million in fourth quarter 2009, and Frova dropping from $17 million to $15 million. Meanwhile, Opana (oxymorphone hydrochloride) sales increased from $52 million to $64 million, while Voltaren (diclofenac sodium) increased from $12 million to $21 million. The endocrinology drug Supprelin (histrelin acetate) had sales of $10 million, while Vantas (histrelin) had sales of $20 million, and the bladder cancer drug Valstar (valrubicin) had sales of $3 million; because Supprelin and Vantas were acquired through Endo’s acquisition of Indus, and Valstar was re-launched, the company did not have fourth quarter 2008 sales data available for them.