UPDATE 1-Santarus posts Q3 loss, lowers FY revenue view
* Q3 loss/shr $0.44 vs EPS $0.09 a year ago
* Q3 rev $18.1 mln vs est $22.mln
* Sees FY rev $115-$118 mln vs est $125.9 mln
* Shares down 13 pct after-hours
Nov 8 (Reuters) - Santarus Inc (SNTS.O) posted a quarterly loss hurt by lower sales of its heartburn drug, Zegerid, and also lowered its full-year revenue forecast below consensus estimates.
For the July-September period, revenue fell 54 percent to $18.1 million, as copy cat versions of Zegerid were launched during the quarter.
The company reported a net loss of $25.7 million, or 44 cents a share, that included an one-time restructuring costs and upfront payment, compared with net income of $5.3 million, or 9 cents a share, a year ago.
For the full-year the company now expects revenue of $115 million-$118 million, from its previous forecast of $125 million-$130 million.
The company said the revenue forecast did not assume promotion revenue from partner Depomed Inc (DEPO.O), associated with its diabetes drug Glumetza 500 milligram in the fourth quarter.
Analysts on average were expecting the company to generate full-year revenue of $125.9 million, according to Thomson Reuters I/B/E/S.
Shares of Santarus, which have gained about 18 percent since the company's experimental anti-inflammatory drug met the main goal of a U.S. late-stage study in September, were down 13 percent at $2.87 in trading after the bell.
They closed at $3.30 Monday on Nasdaq. (Reporting by Krishnakali Sengupta in Bangalore; Editing by Prem Udayabhanu) (email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))
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