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28 February, 2024 17:06 IST
SciClone Pharmaceuticals first-quarter profit jumps 85.61 percent on a YOY basis
Source: IRIS | 11 May, 2017, 03.27PM

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SciClone Pharmaceuticals, Inc (SCLN) has reported an 85.61 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $14.60 million, or $0.28 a share in the quarter, compared with $7.86 million, or $0.15 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $16.64 million, or $0.31 a share compared with $9.70 million or $0.19 a share, a year ago.  

Revenue during the quarter grew 17.52 percent to $42.89 million from $36.50 million in the previous year period. Gross margin for the quarter expanded 155 basis points over the previous year period to 85.63 percent. Total expenses were 66.81 percent of quarterly revenues, down from 74.18 percent for the same period last year. This has led to an improvement of 737 basis points in operating margin to 33.19 percent.

Operating income for the quarter was $14.24 million, compared with $9.42 million in the previous year period.

Friedhelm Blobel, PhD, SciClone’s chief executive officer commented: “We delivered a strong first quarter performance, in line with our expectations, and reflecting the continued demand for, and growth potential of, ZADAXIN and our core business. ZADAXIN’s competitive position remains strong, with continued volume growth despite generic competition. ZADAXIN’s double digit volume growth rate continued this quarter, underscoring its strength as the leading branded thymalfasin, with a 17% volume share and more than a 40% value share. We do face continued pricing pressure, with tenders in two provinces recently announced at prices lower than the reference price with our distributor. We cannot determine at this time with certainty when these prices will take effect, or when they will impact prices in other provinces, but we are likely to experience some effect of those lower prices at some point during the next few quarters. We may also see some pressure on unit volumes in some areas as a result of reduced national-level reimbursement for thymalfasins.”

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