CINCINNATI, Oct. 26 /PRNewswire/ -- Duramed Pharmaceuticals, Inc. (Nasdaq: DRMD - news) today announced that shipping and marketing has begun for its new oral contraceptive, Apri(TM) (desogestrel and ethinyl estradiol) Tablets. Apri is the first and only substitutable product equivalent to Ortho-Cept©(1) and Desogen(TM)(2) Tablets for all new and refill prescriptions. Annual combined brand revenue for the two products in 1998 was approximately $155 million.
``Apri offers a new alternative for women interested in high quality, high value oral contraceptives,' said Duramed Chairman and Chief Executive Officer E. Thomas Arington. ``The launch of the Apri brand is significant to our company, marking the first time Duramed is marketing the first and only bioequivalent product available. The advantage of being the only substitutable equivalent product for Ortho-Cept and Desogen Tablets should allow us to quickly build sales of this key product. It strengthens and expands Duramed's family of women's health and hormone replacement products.'
Apri represents the first product launch resulting from the company's product development alliance with Gedeon Richter, Ltd., the largest Hungarian pharmaceutical company and one of the major suppliers of bulk active raw materials for oral contraceptive products worldwide.
Arington continued by commenting on the potential impact of Apri sales and the company's outlook. ``As we look ahead, management believes that corporate performance in the year 2000 will benefit from substantial sales of Apri as well as an escalating contribution from Cenestin© (synthetic conjugated estrogens, A) Tablets. Cenestin sales should benefit from the mid-October kick-off of marketing efforts from our alliance with Solvay Pharmaceuticals to jointly promote three of our companies' hormone products to obstetricians and gynecologists across the United States.'
He reiterated that the third quarter ended September 30, 1999 was the first period in which Cenestin was being actively marketed. ``The third quarter will be the base period for growth in Cenestin revenue toward our long-term targets and, as such, will reflect our conservative approach to revenue recognition. The third quarter also will reflect the company's decision to initiate direct to consumer advertising in September, about six months ahead of the originally anticipated schedule, as well as the $15 million charge for the settlement of the company's lawsuit with Schein Pharmaceutical, Inc. The consumer advertising program is one of a number of efforts expected to bring total spending for the Cenestin roll out to approximately $25 million by year-end 1999.' |
