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Supernus 2016 results, 2017 outlook

March 4, 2017
  • Fourth quarter 2016 net product sales were $61.1 million, a 43% increase over 2015.
  • Fourth quarter operating income was $16.3 million, a 107% increase over 2015.
  • Fourth quarter diluted earnings per share were $0.26, an 86% increase over 2015.
  • Full year 2016 net product sales were $210.1 million, a 46% increase over 2015.
  • Full year 2016 operating income was $54.2 million, a 160% increase over 2015.
  • Full year 2016 diluted earnings per share were $1.76 compared to $0.28 in 2015.

Supernus Pharmaceuticals, Inc. (SUPN), a specialty pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases, today reported financial results for fourth quarter and full year 2016 and associated Company developments.

Commercial Update

Fourth quarter 2016 product prescriptions for Trokendi XR® and Oxtellar XR®, as reported by IMS, totaled 136,145, a 22.0% increase over the fourth quarter of 2015. Full year 2016 product prescriptions for Trokendi XR and Oxtellar XR totaled 506,542, a 33.9% increase over full year 2015.

Prescriptions Prescriptions
Q4 2016 Q4 2015 Change % FY 2016 FY 2015 Change %
Trokendi XR 102,727 83,899 22.4% 381,226 279,782 36.3%
Oxtellar XR 33,418 27,728 20.5% 125,316 98,391 27.4%
Total 136,145 111,627 22.0% 506,542 378,173 33.9%
Source:  IMS

Net product sales for the fourth quarter of 2016 were $61.1 million, a 43.4% increase over $42.6 million in the same period the prior year. Net product sales for full year 2016 were $210.1 million, a 46.4% increase over $143.5 million in 2015.

Net Product Sales ($mil.) Net Product Sales ($mil.)
Q4 2016   Q4 2015 Change % FY 2016   FY 2015 Change %
Trokendi XR $46.7 $33.3 40.3% $158.4 $110.3 43.6%
Oxtellar XR $14.4 $9.3 54.7% $51.7 $33.2 55.7%
Total $61.1 $42.6 43.4% $210.1 $143.5 46.4%

In August 2016, the Food and Drug Administration (FDA) granted tentative approval to the Company’s Supplemental New Drug Application requesting a label expansion for Trokendi XR to include prophylaxis of migraine headache in adults. The Company plans to launch the migraine indication soon after receiving full FDA approval, which the Company anticipates in the second quarter of 2017.

“2016 was another year of strong commercial performance with full year net product sales growth of 46% and an increase in operating income of 160% over full year 2015,” said Jack Khattar, President and CEO of Supernus Pharmaceuticals. “This growth was achieved while we continued to advance our pipeline and prepare for the launch of the migraine indication for Trokendi XR.”

Khattar added, “In addition, we continued to vigorously defend our novel products and build upon our strong intellectual property position, as evidenced by the favorable court rulings on Oxtellar XR and the issuance of four U.S. patents for Trokendi XR and Oxtellar XR over the past 12 months. We have established a solid foundation for sustainable growth, and we expect 2017 to be another year of strong net product sales and operating income growth.”

Financial Guidance

For full year 2017, the Company estimates net product sales, R&D expenses and operating income as set forth below:

  • Net product sales in the range of $265 million to $275 million.
  • Research and development expense of approximately $55 million.
  • Operating income in the range of $75 million to $80 million. This includes approximately $5 million of non-cash royalty revenue.

https://yhoo.it/2m5f4Nx

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