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SYNTEX TORADOL SALES ARE $61.1 MIL. IN FOURTH QUARTER, DOUBLE A YEAR AGO

Executive Summary

Sales of Syntex' oral and injectable analgesic Toradol (ketorolac) were $61.1 mil. worldwide in the fourth quarter of fiscal 1992 (ended July 31), more than double year-ago sales of $25.7 mil. However, Toradol sales were "essentially flat" with the previous three-month period, Syntex acknowledged. Third quarter Toradol brand sales totaled $60.9 mil. worldwide, which included the introduction in the U.S. of Toradol oral tablets following approval on Dec. 20. Sales of Toradol oral tabs were $21.2 mil. during that three-month period in the U.S., Syntex told analysts in mid-June. Reacting to the lower than expected acceptance of the oral version of the analgesic, Syntex is adding 400 additional reps to its Toradol sales force -- putting its entire 1,150-person sales force behind the product. The Toradol line has been copromoted since 1990 by Roche. For the full fiscal year, Toradol brand sales were $197.8 mil. worldwide, an increase of over 100% compared to FY 1991 sales of $74.9 mil. U.S. sales of the line totaled $149.1 mil., with the oral version contributing sales of $42.5 mil. for the year and the intramuscular version generating $106.6 mil. in sales. Syntex human pharmaceutical sales worldwide increased 17.4% in the fourth quarter to $448.2 mil. and totaled $1.8 bil. for the full 12 months, an increase of 16.4%. Sales grew at a faster rate outside the U.S. for the fourth quarter but were down slightly for the full year. Syntex noted that it had no price increases in the U.S. during FY 1992. (The company subsequently raised U.S. prices on Aug. 1). Newer products accounted for one-fifth of all sales. The flagship Naprosyn/Anaprox (naproxen) nonsteroidal anti- inflammatory line "exceeded $1 bil. in sales for the first time," Syntex reported. Sales for the line increased 9.8% during the year. Fourth quarter brand sales worldwide were 6.3% higher than in the year-earlier period at $230 mil. but declined from $253 mil. in the third quarter, Syntex noted. U.S. sales for the line increased 14% during FY 1992.
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