Adams Respiratory: first quarter net sales up 92% on strength of Mucinex brand

By Lisa Kerner

Charlotte, N.C., Nov. 8 - Adams Respiratory Therapeutics, Inc. announced financial results for the first fiscal quarter ended Sep. 30, including a 92% rise in net sales to $90.1 million, from $47.0 million for the first fiscal quarter of 2006. The company attributed the increase to distribution of Mucinex DM, the launch of Children's Mucinex and sales of the newly acquired Delsym product line.

Sales of Mucinex DM more than doubled from the prior-year period to $24.3 million, while net sales of Children's Mucinex reached $10.0 million and Delsym sales were $8.2 million.

Income before taxes rose 26% to $25.4 million and diluted earnings per share climbed 22% to $0.44 in the first fiscal quarter of 2007. Adams Respiratory said in the prior-year period, income before taxes and diluted earnings per share were $20.1 million and $0.36, respectively.

The company reported a decline in gross margin to 67.4% for the period, from 81.9% for the same period of fiscal 2006.

Looking ahead, Adams Respiratory expects to conduct a $70 million consumer advertising campaign in support of its Mucinex brand and plans to spend between $30 million and $35 million in fiscal 2007 for product development.

Adams Respiratory is a specialty pharmaceutical company based in Chester, N.J.

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