American Pharmaceutical Partners, Inc.

Pharmaceutical company reports sales of $96M in third quarter

Published in Lab Law Weekly, November 26th, 2004

American Pharmaceutical Partners, Inc., (APPX) reported net sales of $95.6 million for the third quarter ended September 30, 2004, an increase of 6% over net sales of $90.4 million in the 2003 third quarter.

Third-quarter 2004 gross margin was 54.1% compared with 53.7% in the same quarter last year.

In the 2004 third quarter, the company incurred Abraxane expenses totaling $10.1 million, or $0.09 per diluted share after applicable income taxes. Additionally, the company obtained a $100 million unsecured credit facility in September 2004.

The new credit facility replaced a prior $50 million, 5-year, secured credit facility entered...

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Source: Lab Law Weekly (2004-11-26)

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