Impax Laboratories has reported a 19.1% increase in total revenues for the quarter ended September 30, 2014 compared to the third quarter of the prior year. The company attributes a portion of the increase in revenues to a 54% increase in sales of Zomig zolmitriptan nasal spray, which it markets in the US for the treatment of migraine. Impax acquired the rights to Zomig from AstraZeneca in 2012.
The company also said that increases in gross margin and adjusted gross margin were directly attributable “to favorable product contribution from higher sales of Zomig nasal spray.” The company’s overall sales were down, due in part to loss of exclusivity for its oral forms of Zomig. Some of the nasal spray’s patents will not expire until 2021, the company said.
Impax Laboratories President and CEO Fred Wilkinson said, “The strong third quarter results were driven by higher sales from our key products in the generics business as well as continued growth of Zomig nasal spray in our brand division. The increased revenues are the direct result of our increased focus on commercialization strategies for our current line of assets.”
Read the Impax press release.
