Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Sagent Pharmaceuticals, a specialty pharmaceutical company engaged in manufacturing developing, sourcing and marketing pharmaceutical products, has reported net revenue of $30.34m for the first quarter ended 31 March 2011, an increase of 251%, compared to $8.64m for the same period in 2010.
Subscribe to our email newsletter
The company has reported a net loss of $4.37m, or $2.09 loss per diluted share, compared to net loss of $7.34m or $3.90 loss per diluted share, for the same period last year.
Sagent Pharma’s loss from operations were $3.42m, as compared to $7.1m for the same period prior year.
Sagent Pharma CEO founder and chairman of the board Jeffrey Yordon said the company has made progress so far in 2011 as they grew their revenues by more than 250% year-over-year and completed initial public offering in April, pricing at the high end of the range, increasing the number of primary shares offered by 15%, and had their underwriters exercise their overallotment option for an additional 15% of the offering.
"We expect the funds used from our recently completed initial public offering to be used to support the forthcoming launches of the 45 products represented by the 79 ANDAs that have been recently approved or are pending approval by the FDA, to more expand our development pipeline and for general corporate purposes," Yordon said.