Chesterbrook Pharma Anticipates Growth, New Products In 2014

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3.3.2014 auxilium and NASDAQ
Adrian Adams (center), CEO and President of Chesterbook Pharmaceutical company Auxilium, rings NASDAQ’a opening bell last Wednesday in New York City.

Representatives from Auxilium Pharmaceuticals, Inc. of Chesterbrook rang the Nasdaq opening bell on Feb. 26 and also announced to investors solid financial results for 2013.

“2013 was a transformative year for Auxilium, marked by the expansion and diversification of our product portfolio from two to 12 products and characterized by robust revenue growth,” Adrian Adams, chief executive officer and president stated in a company news release.

Adams believes the specialty biopharmaceutical company – which develops and markets products for urology, men’s health care, orthopedics and dermatology – has established a leadership position and broader portfolio in those areas.

“With five growth products, including two exciting new products, STENDRA™ for erectile dysfunction and XIAFLEX® for Peyronie’s disease, launched in January 2014, we believe we are strongly positioned to deliver value to our shareholders and important treatment options to patients this year and beyond,” Adams said.

During 2013 the Food and Drug Administration approved XIAFLEX. The drug treats Peyronie’s disease, a connective tissue disorder causing growth of fibrous plaques in the soft tissue of the penis. The disease affects about 5 percent of men. The company also entered a licensing agreement with VIVUS, Inc. for U.S. and Canadian marketing rights to STENDRA, which it says is the first new drug for erectile dysfunction in 10 years. In all, the company added nine new products to its portfolio.

Auxilium also reported $400.7 million in revenues for 2013, compared to $303.3 million in 2012. The company attributes this to higher XIAFLEX sales and additional products it acquired through its subsidiary Actient Holdings, LLC. Actient products include TESTOPEL (a long-acting implantable testosterone replacement therapy) and Edex (an injectable treatment for erectile dysfunction).

Looking at 2014, Auxilium is projecting global net revenues to jump to $450 to $490 million. Auxilium is telling shareholders it plans to spend $50 to $55 million on research and development and that sales and administrative expenses will be $255 to $265 million. Aixilium anticipates a net interest expense of $20 to $22 million, a net income of $45 to $50 million, and a gross margin of 79 to 80 percent.

Auxilium state it also has programs in clinical development to treat frozen shoulder syndrome and cellulite. Auxilium states its mission is to improve the lives of patients throughout the world by successfully identifying, developing and commercializing innovative specialty biopharmaceutical products.

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