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Cipher Pharmaceuticals Reports 2015 Financial Results
Cipher Pharmaceuticals Reports 2015 Financial Results Cipher Pharmaceuticals Repor...
About this update from Cipher Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCipher Pharmaceuticals Reports 2015 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nCipher Pharmaceuticals Reports 2015 Financial Results\nCanada NewsWire\nMISSISSAUGA, ON, Feb. 24, 2016\n\n\n\nQ4 revenue up 30%, Company significantly advances strategic plans to build adermatology growth company\n\n\n\nMISSISSAUGA, ON, Feb. 24, 2016 /CNW/ - Cipher Pharmaceuticals Inc. (NASDAQ:CPHR; TSX:CPH) (\"Cipher\" or \"the Company\") today announced its financial and operational results for the three and twelve months ended December 31, 2015. \n\n\"In 2015 we made major strides to transform Cipher from a royalty business into an integrated dermatology growth company with a solid commercial foundation in the U.S. and Canada, a portfolio of currently marketed products, and a robust pipeline of late-stage assets to drive organic growth,\" said Shawn Patrick O'Brien, President and CEO of Cipher. \"We started 2015 with five revenue streams and entered 2016 with 15 revenue streams and growing. The favourable resolution of the Absorica® patent litigation in Q4 provides excellent revenue visibility on this product through 2020. While maintaining positive cash flow from operations, we're using our strong earnings base and balance sheet to invest significantly in our U.S. products and capabilities to accelerate revenue and drive long-term profitability. As anticipated, this investment affected profitability levels in 2015.\" \n\nMr. O'Brien added: \"Looking ahead, we will continue to make important investments in 2016 to increase sales of our commercial products and support the nine product launches targeted this year. In the U.S. business, our priority is to generate strong growth in our three core products, led by Sitavig®, which had net sales growth of more than 100% in Q4 versus Q3 2015. We expect Sitavig will drive steadily improving operating profitability. In Canada, building off the 80% organic revenue growth in 2015, we expect continued growth from Epuris®, augmented by Vaniqa...