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AVR purchase boosts sales, JV selloff boosts earnings
August 2, 2011
By: Gil Roth
President, Pharma & Biopharma Outsourcing Association
Akorn 2Q11 2Q Revenues: $32.1 million (+59%) 2Q Earnings: $17.9 million (loss of $9.4 million in 2Q10) YTD Revenues: $57.6 million (+41%) YTD Earnings: $23.8 million (loss of $5.9 million YTD10) Comments: During 2Q11, Akorn acquired Advanced Vision Research (AVR), an OTC dry-eye marketer. Revenues from AVR accounted for 18 points of Akorn’s 59% revenue boost. The remaining 41% growth was due to continued growth of new products, strong organic growth in established injectable and ophth...
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