Nov 6 Auxilium Pharmaceuticals Inc
reported a better-than-expected adjusted quarterly profit,
boosted by strong drug sales from a recently acquired company,
and narrowed its full-year revenue forecast range.
Auxilium shares rose about 6 percent in premarket trading.
The company said it now expected full-year revenue of $370
million-$401 million compared with $363 million-$405 million
Auxilium has been trying to diversify its revenue stream as
sales of its testosterone gel, Testim, lag amid slowing growth
of the testosterone replacement market, competition and reduced
coverage of the drug by managed care plans.
The company added nine drugs to its portfolio of two when it
acquired Actient Holdings LLC, a privately-held urology company,
Auxilium said last month that it would market Vivus Inc's
erectile dysfunction drug, Stendra, in the United
Auxilium's net revenue jumped 52 percent to $108.1 million
in the third quarter ended Sept. 30, partly due to strong sales
of its hand disorder treatment, Xiaflex.
Analysts on average had expected $103.7 million, according
to Thomson Reuters I/B/E/S.
Sales of Actient products, mainly a testosterone treatment
and an erectile dysfunction drug, contributed $38.3 million to
Total sales of Testim fell 6 percent to $52.3 million in the
quarter. Auxilium cut its full-year forecast for total sales of
the drug to $200 million-$210 million from $210 million-$225
Sales of Xiaflex rose 12 percent to $17.6 million.
Auxilium's net loss widened to $28.9 million, or 59 cents
per share, in the third quarter from $10.5 million, or 21 cents
per share, a year earlier.
Excluding items, the company earned 17 cents per share,
higher than the average analyst estimate of 15 cents.
Auxilium shares closed at $17.29 on Tuesday on the Nasdaq.