Short reports on business and comuunity activity in Chester County. This Morning:

Schuylkill Trail Walk to Answer Healthcare Questions

Put on some comfortable shoes and join local healthcare professionals in a community walk along the Schuylkill River Trail this Saturday in Phoenixville.

The walk will start at the covered bridge next to the Phoenixville Foundry, and from there will follow the Trail for half a mile before turning back. Residents are invited to come to this free event which highlights the “Benefits of walking and what to do when you have knee pain.”

The event also provides an opportunity to get answers for healthcare questions that participants may have from Dana Burkholder, of Phoenix Family Medicine, and Charlene Burkholder, the Director of Orthopedic Service at Phoenixville Hospital, as they will both be on hand to answer any queries.

If you have any questions about the event please contact Activate Phoenixville Area at kim@activatephoenixvillearea.or, or at 610-917-9890 ext.25.

Egalet Provides Its Third Quarter Business Update

Egalet Corporation has released its third quarter business highlights and financial results.    

Among the new opportunities that the company is pursuing, Egalet says it will be expanding its commercial sales team by having an additional 21 sales representatives in place by January 2016, as well as announcing plans to expand its manufacturing division to support the potential commercialization of ARYMO. The company also shared plans to submit an investigational new drug application in the second half of 2016 for a Guardian™ Technology abuse-deterrent stimulant, Egalet-003;

“In addition, we had a successful pre-NDA meeting with the FDA and are on track to submit an NDA for ARYMO in the fourth quarter, a significant milestone for the company as this will be our first product fully developed using our proprietary Guardian Technology,” stated Bob Radie, Egalet’s President and CEO.

Endo Publishes Mostly Positive Third Quarter Financial Results

Endo International, the global specialty pharmaceutical company, reported its third quarter financial results at the end of last week.

The Dublin based company, with its U.S. headquarters in Malvern, reported revenue of $746 million, a significant 14 percent jump compared to the same quarter last year. The company also reported adjusted income from continuing operations of $214 million, a 31 percent increase compared to Q3 of 2014. Unfortunately, the third quarter also saw a $3.84 diluted loss per share however, the adjusted diluted EPS was positive at $1.02.

“Our diversified business delivered solid financial results this quarter and was further strengthened by our completed acquisition of Par Pharmaceutical Holdings, Inc,” stated Rajiv De Silva, Endo’s President and CEO. “As we continue to execute on our strategy of organic growth, de-risked pipeline development and creating shareholder value through accretive, strategic M&A, we believe Endo is positioned for overall double-digit revenue expansion over the mid to long-term.”

Genesis HealthCare Reports Strong Third Quarter Performance

Kennett Square based Genesis HealthCare has announced its third quarter operating results for the ended September 30.

As one of the largest post-acute care providers in the U.S., Genesis reported that its efforts to control expenses yielded $10.2 million of savings in Q3, with $25.7 million of savings for the first nine months of the year.

This puts the company on track to realize $35 million in 2015. Genesis also said that its planned acquisition of Revera Inc.’s 24 skilled nursing facilities and contract rehabilitation business is expected to close by the end of 2015.

“We are pleased to report EBITDA growth in excess of 10% for the third consecutive quarter, exceeding our own expectations,” said George V. Hager, Jr., Genesis’s CEO. “Our success managing costs and leveraging our scale through acquisition were the drivers behind our 60 basis points of year-over-year EBITDAR margin expansion.”

TetraLogic Reports Financial Results for Q3

TetraLogic Pharmaceuticals Corporation, the clinical-stage biopharmaceutical company based in Malvern, has released its third quarter financial results for the period ended September 30.

As part of the release TetraLogic gave an update on its co-operation with Merck, announced back in April. Their collaborative Phase 1 study to evaluate the safety and efficacy of birinapant in combination with KEYTRUDA, Merck’s anti-PD-1 therapy for patients with relapsed or refractory solid tumors, is now expected to begin in December this year.

The company reported its cash position at $29.5 million compared to $53.7 million at the end of last year. Research and Development expenses remained the same at $5.7 million. General and Administrative expenses went down from $2 million to $1.5 million compared to 2014. The company reported an adjusted net loss of $8.1 million, half a million lower than same period last year.