Adams records strong FY 2007 sales
CHESTER, N.J. Adams Respiratory recorded fiscal 2007 sales ending June 30, of $331.6 million, an increase of 39 percent, driven by heavier retail consumption, the company reported Tuesday.
“Solid retail consumption and strong market share gains of our key brands during this non-seasonal [fourth] quarter represent a healthy business,” stated Adams’ chief operating officer Robert Casale. “At this time we already have commitments and programs to support a 20 percent display increase over last year. We’re expecting another year of strong promotional support across all our major drug customers. It is safe to say, based on initial trade orders and acceptances, that we will have all of our new products and segments in distribution at most outlets in the Food, Drug and Mass channels. By the end of this week, we expect to have shipped all of these products except grape Delsym,” he said. “The adult and children’s versions of grape-flavored Delsym are awaiting final Food and Drug Administration approval.”
The solid top-line growth was primarily due to higher sales of new products such as the line of Mucinex for Children products and Delsym, as well as the continued market penetration of Mucinex DM and Mucinex D. The annual sales growth was tempered by a decline in sales of Mucinex SE, primarily due to a greater availability of and patient conversion to Mucinex DM, the company reported.
Overall net sales in fiscal 2007 were tempered by a lower severity of upper respiratory illness during the 2006-2007 cough/cold season.
B&L, Alcon settle lawsuit over color scheme
ROCHESTER, N.Y. Bausch & Lomb and Alcon Laboratories earlier this week settled the lawsuit recently filed by B&L concerning Alcon’s promotional claims about Bausch & Lomb’s ReNu MultiPlus multi-purpose disinfecting solution.
The suit centered on Alcon’s use of a color-coded chart showing differences in superficial punctate transient corneal staining profiles observed in Dr. Gary Andrasko’s research. To address Bausch & Lomb’s concern over the red-yellow color scheme of Dr. Andrasko’s corneal staining grid, Alcon has agreed to change the red-yellow color scheme used in its promotional materials.
The use of the color scheme in Alcon’s materials was not intended to communicate that the lens-solution combinations designated red or yellow meant danger or caution, and was not meant to suggest an increased risk of corneal infection.
In light of Alcon’s and B&L’s agreements, the lawsuit has been dismissed with prejudice, without any payment of damages from either party.
Adams ranks high on Deloitte list
Adams Respiratory Therapeutics ranked No. 7 in Deloitte & Touche’s Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology, media, telecommunications and life sciences companies in the area, the company announced Monday.
“We are very proud to be recognized by Deloitte for achieving a revenue growth rate of 1,638 percent from 2002 to 2006,” commented Michael Valentino, chief executive officer of Adams, on the distinction. “It has been exhilarating to see the things we’ve done take hold. Our unique regulatory strategy for Mucinex coupled with our synergistic blend of consumer and professional marketing for the Mucinex brand helped fuel our phenomenal growth over the past five years. … We now market nine over-the-counter products with multiple new product introductions planned this fall. Additionally, we also plan to expand into the prescription respiratory market as early as 2008.”