CNS finishes strong
This article was originally published in The Tan Sheet
Breathe Right nasal strips and FiberChoice supplements drove sales up 27% to $28.4 mil in CNS' fiscal fourth quarter (ended March 31), the firm reports April 28; earnings were $4.1 mil. compared to $0.3 mil. in the prior-year period. Results benefited from increasing consumer demand for Breathe Right strips as well as a longer-than-expected cough/cold season, CEO Marti Morfitt said. Full-year net sales increased 8% to $93.7 mil. while earnings jumped 60% to $13.7 mil. CNS projects first-half sales growth in the 20%-25% range on the strength of two FiberChoice line extensions...
You may also be interested in...
Facing soaring legal costs stemming from its failed merger with Fresenius Kabi and burdened by substantial debt, Akorn elected to put itself up for sale earlier this year in order to help repay lenders. But the company has now defaulted on an agreement with its creditors after no bidder stepped up to the plate.
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
Following the announcement in the US that ranitidine drugs must be withdrawn from the market, the European Medicines Agency told the Pink Sheet it would decide on the fate of these medicines in the EU after wrapping up its own inquiry.