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Financial Report: AMRI 1Q12

Hungary closure leads to charges

By: Gil Roth

President, Pharma & Biopharma Outsourcing Association

AMRI 1Q Revenues: $53.7 million (-6%) 1Q Loss: $3.8 million (loss of $1.5 million in 1Q11) Comments: Contract revenue was virtually flat at $42.7 million. Discovery Services dropped 8% to $9.7 million, Development/Small Scale Manufacturing fell 7% to $9.8 million, and Large Scale Manufacturing rose 6% to $23.2 million. Royalties from Allegra fell 21% to $11.0 million, due to a less severe allergy season in Japan. The company took $3.9 million in impairment charges during the quarter, mainly d...

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