Strong Angiomax showing bolsters Med Cos Q2 sales, income
The net income for the second quarter of 2012 was $13.8 million, compared with net income of $11.4 million for the second quarter of 2011.
The company said that its net revenue increased by 13.5 percent to $135.7 million for the second quarter of 2012 from $119.6 million in the second quarter of 2011.
Specifically, Angiomax U.S. sales increased by 8.2 percent to $121.2 million in the second quarter of 2012 compared with $112 million in the second quarter of 2011. The Angiomax/Angiox international net revenue in the second quarter of 2012 increased by 63.6 percent to $11.9 million compared with $7.3 million in the second quarter of 2011.
"For the first half of 2012, revenue growth has been robust with Europe a particular bright spot -- while we have kept worldwide SG&A [selling, general and administrative] costs stable,” said Glenn Sblendorio, president and chief financial officer at Medicines Company. “Our R&D projects are moving forward aggressively to drive toward answers on our critical Phase 3 trials of oritavancin and cangrelor."