Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Executive Summary
SCOLR supplement royalties shrink: The Bothell, Wash.-based pharma firm reports an 18.6 percent drop in its fiscal 2008 to $958,320 in royalties paid by dietary supplement firms licensing its controlled delivery technology. SCOLR said March 11 it received lower royalty income from Perrigo and terminated its relationship with Nutraceutix in 2008. Royalties in 2008 constituted the firm's sole source of revenue, which fell 51.4 percent from $2 million in fiscal 2007. Revenues for the fourth quarter - October through December - decreased 20.4 percent to $176,885. The firm narrowed its full-year net loss by 42.2 percent to $6.1 million, due primarily to a lease buyout transaction. Despite struggles to generate revenue, SCOLR President and CEO Bruce Morra expressed optimism a partner will be found to assist with commercializing an OTC ibuprofen product using CDT currently in development. He also said an abbreviated new drug application for the firm's pseudoephedrine product is moving closer to FDA approval. SCOLR received a complete response letter from the agency with questions about the PSE application in January, though the company says FDA's concerns are not linked to the drug's safety or efficacy (1"The Tan Sheet" Jan. 26, 2009, p. 16)
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AOB’s OTCs flat after Rx switch
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