SYNTEX NAPROSYN/ANAPROX FOURTH QUARTER SALES OFF 7% TO $ 172 MIL., CITES TOUGHER U.S. NSAID MARKET; FY 1989 NAPROXEN SALES TOP $ 740 MIL., UP 7%
Combined worldwide sales of Naprosyn (naproxen) and Anaprox (naproxen sodium) in Syntex' fourth quarter (ended July 31) dropped 7.2%, compared to the same period last year, to $ 171.8 mil. Despite lower volume for the two NSAIDs in the fourth quarter, full fiscal 1989 naproxen volume climbed 6.6% to $ 743.1 mil. The fourth quarter weakening in Syntex' major product was primarily due to lower sales of Naprosyn in the U.S. where the drug "faced additional competition" from Ciba-Geigy's Voltaren and Upjohn's Ansaid and from "less-than-expected growth in the anti-arthritic market during the year," the company said. Naproxen fourth quarter volume was also lower overseas because of the stronger dollar and heightened generic competition, Syntex noted. Full-year naproxen sales outside the U.S., however, increased 5% to $ 221.4 mil. Fourth quarter pharmaceutical sales of $ 265.9 mil. would have been approximately $ 5 mil. higher if year-earlier currency exchange rates were still in effect, the company noted. Negatively affected by the decline in naproxen sales, Syntex corporate revenues dropped 3% to $ 321.1 mil. in the last three months. FY 1989 consolidated sales of $ 1.3 bil. were ahead 6.1%. Net income fell 25.1% for the quarter to $ 50.4 mil., but was 2.2% higher for the year at $ 303.2 mil. Chart omitted.
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth