I guess we should be grateful for this morning's earnings report. MNTA only lost 2% today rather than double digit %ages for many others in the sector....
Brief Extract:
For the second quarter of 2011, the Company reported a net income of $64.3 million, or $1.26 per diluted share, compared to a net loss of $15.0 million, or $0.34 per share, for the same period in 2010. For the six months ended June 30, 2011, the Company reported a net income of $121.3 million, or $2.39 per diluted share, compared to a net loss of $31.1 million, or $0.71 per share, for the same period in 2010. At June 30, 2011, the Company had cash, cash equivalents, and marketable securities of $246.3 million, compared to $152.8 million at December 31, 2010.
The Company noted the following highlights:
On July 23, 2011 Momenta/Sandoz marked a full year as the sole provider of generic enoxaparin.
Revenue for the second quarter 2011 was $87.5 million with an EPS of $1.26, fully diluted.
The Company has earned over $256 million in profit share revenue from sales of enoxaparin to date.
At the quarter's end the Company had a cash balance of $246 million and $85 million in accounts receivable.
"We had a very strong quarter," stated Craig A. Wheeler, President and Chief Executive Officer. "On July 23rd we and Sandoz marked a full year as the sole provider of generic enoxaparin, and through June 30, 2011 we have earned over $256 million in profit share revenue from enoxaparin," he continued. "At the same time, we are providing patients with more affordable medicine, which is a very rewarding aspect of our business." |
