Warner Chilcott says that its third-quarter earnings have tripled, though pharmaceutical sales fell due to impact of generic competition for its osteoporosis drug Actonel.
Net profit rose to $113 million, up from $33 million in the like, year-earlier period, when the figures were hit by $44 million of restructuring charges. Turnover fell 7% to $606 million.
Sales of Actonel (risedronate) slid 28% to $119 million, battered by generics in western Europe and Canada and "the overall declines in the US oral bisphosphonate market". The company's ulcerative colitis treatment Asacol (mesalamine) inched up 1% to $191 million.
The bladder treatment Enablex (darifenacin) was flat at $45 million and sales of the antibiotic Doryx (doxycycline) fell 31% to $20 million, hit by generics in the USA. As for Warner Chicott's contraceptives, Loestrin 24 Fe (norethindrone and ethinyl estradiol) fell 9% to $95 million, due to a shift to promoting Lo Loestrin FE; the latter brought in $33 million, up 43%.
The Ireland-based company has raised its earnings outlook for the year by $0.20 to $3.75-$3.85 a share, as a result of lower-than-expected expenses.