Tuesday 2nd March 2010, Melbourne Australia: HalcyGen Pharmaceuticals Limited (ASX: HGN) reports that its marketing and distribution partner for its Doryx product, Warner Chilcott (USA), has filed its operating results showing US$66.6 million and US$210.0 million in Doryx sales for the quarter and year ended 31 December 2009 respectively (attached).
The following is an extract of the commentary relating the sales of Doryx for the quarter:
“Net sales of our dermatology products increased $31.6 million, or 26.9%, in the quarter ended December 31, 2009, as compared to the prior year quarter. Net sales of DORYX increased $19.3 million, or 40.4%, in the quarter ended December 31, 2009, compared to the prior year quarter, primarily due to a 42.1% increase in filled prescriptions and higher average selling prices relative to the prior year quarter, which were offset in part by higher sales-related deductions. The increase in filled prescriptions primarily relates to DORYX 150 mg, which we launched in the third quarter of 2008 and to which we have dedicated significant promotional efforts, including our customer loyalty card program. Increased utilization of the customer loyalty card for DORYX 150 mg drove an increase in sales related deductions in the quarter ended December 31, 2009 compared to the prior year quarter.”
HalcyGen: Dr Roger Aston 0402 762 204
Craig Bottomley 0414 328 055
HalcyGen was founded to bridge the gap between main stream pharmaceutical companies and high volume generics companies through the development and licensing of new improved proprietary generic formulations known as "Super Generics" or "High Functionality Generics".
HalcyGen acquired Mayne Pharma International Pty Ltd (MPI) in November 2009. The company has substantial assets and revenues.
MPI was formerly known as FH Faulding & Co Ltd, and is a specialist pharmaceutical company with an intellectual property portfolio built around the optimisation and delivery of oral dosage form drugs. MPI has a long and successful history in developing and commercialising improved pharmaceuticals, and has launched and marketed numerous products through partnerships with global licensees.
MPI’s facilities are based in South Australia on a 32 acre site. The facility also undertakes the manufacture of products under contract for third parties to TGA, FDA and EU regulatory guidelines.