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SYNTEX NAPROXEN/NAPROXEN SODIUM U.S. SALES UP 20.4% TO $177 MIL. IN FIRST QUARTER PACED BY INITIAL SELL-IN OF HAMILTON PHARMA AND BULK GENERIC SUPPLIES

Executive Summary

Syntex sales of naproxen and naproxen sodium increased 20.4% in the U.S. to $177 mil. in the fiscal 1994 first quarter (ended Oct. 31), Syntex reported Nov. 24. U.S. sales of the nonsteroidal anti-inflammatory drugs were pushed ahead by the initial sell-in of Syntex' generic versions marketed under the company's Hamilton Pharma moniker and sales of bulk naproxen/naproxen sodium to other generic drug manufacturers, the company said. Sales of Naprosyn and Anaprox, however, were down year-to-year as well as off from the fourth quarter of FY 1993. Naprosyn and Anaprox lose patent exclusivity on Dec. 21. Sales outside the U.S. for the drugs declined 12.9% to $56.9 mil. However, the generic and bulk chemical sales more than offset the lower brandname sales in both the U.S. and overseas: naproxen/naproxen sodium total sales rose 10.2% to $233.9 mil. in the three-month period. Worldwide human pharmaceutical sales increased 7.1% to $444.3 mil. with the U.S. contributing $309.8 mil. in sales, a gain of 12.6% from the year-ago period, and non-U.S. markets generating $134.5 mil. in sales, a 3.8% decline from first quarter FY 1993, in part due to fluctuating currency exchange rates. In addition to higher sales of naproxen/naproxen sodium, sales were higher for Toradol (ketorolac) and for Ticlid (ticlopidine) worldwide. Ketorolac U.S. oral sales were $43.5 mil., up 34.3% from the same period a year ago; Toradol IM sales in the U.S. rose 3.9% to $29.3 mil. Total worldwide Toradol sales increased 16.7% to $79.1 mil. Ticlid sales rose 66.7% to $13.5 mil. On the down side, sales of Syntex reproductive products, dermatological products and Cardene were lower. Reproductive and endocrinology product sales of $25.1 mil. were 15.2% lower for the quarter, with both oral contraceptive and Synarel sales down. OC sales fell 3.4% to $19.8 mil., and Synarel sales were off 53% from $6.6 mil. in the same period a year ago. Dermatological product sales of $18 mil. fell 20.4%. Cardene sales declined 7.5% to $14.7 mil. from $15.9 mil. in the same quarter of FY 1993. Cytovene sales totaled $19.8 mil., up approximately $700,000, or 3.7%. from the year-earlier period. Consolidated sales increased 4.1% in the quarter to $512.3 mil. Syntex earnings were $126.3 mil. compared to a loss of $6.1 mil. taken in the same quarter of the previous fiscal year, which included a $108 mil. restructuring charge.
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