Business
Supernus Announces Fourth Quarter and Full Year 2019 Financial Results
Fourth quarter and full year 2019 total revenue of $100.4 million and $392.8 million, respectively.Fourth quarter and full year 2019 net product sales of
About this update from Supernus Pharmaceuticals, Inc.
[{"type":"text","content":"Fourth quarter and full year 2019 total revenue of $100.4 million and $392.8 million, respectively.Fourth quarter and full year 2019 net product sales of $97.9 million and $383.4 million, respectively.Fourth quarter and full year 2019 operating earnings of $40.8 million and $148.6 million, respectively.FDA assigned PDUFA target action date of November 8, 2020 for review of SPN-812 New Drug Application.Phase III P302 trial of SPN-810 for the treatment of IA in ADHD patients 6 to 11 years old did not meet primary endpoint. ROCKVILLE, Md., Feb. 25, 2020 (GLOBE NEWSWIRE) -- Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN), a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today reported financial results for the fourth quarter and full year of 2019, and associated Company developments.\n Commercial Update Full year 2019 product prescriptions for Trokendi XR® and Oxtellar XR®, as reported by IQVIA, totaled 836,399, a 6.4% increase over full year 2018. Fourth quarter 2019 product prescriptions for Trokendi XR and Oxtellar XR totaled 212,780, a 1.4% increase over the fourth quarter of 2018. Prescriptions FY 2019 FY 2018 Change % Trokendi XR672,485 638,923 5.3% Oxtellar XR163,914 147,488 11.1% Total836,399 786,411 6.4% Source: IQVIA As previously disclosed, wholesalers, distributors and pharmacies increased their inventory levels of the Company’s products in the fourth quarter of 2018. The Company estimates that this caused net product sales in both the fourth quarter and full year 2018 to be approximately $10 million higher than would have been otherwise; i.e., had inventory levels remained consistent quarter to quarter. The inventory build in the fourth quarter of 2018 was then effectively reversed in the first quarter of 2019, causing net product sales to be $10 million lower in both the first quarter and full year 2019 than would have been otherwise. Net product sales for full year 2019 were $383.4 million, compared to $399.9 million for full year 2018. Net product sales for the fourth quarter of 2019 were $97.9 million, compared to $113.5 million in the fourth quarter of 2018. The decrease in both quarter over quarter and year over year comparisons is due to the aforementioned increase in inventory holdings in the fourth quarter of 2018. In addition,...