Andrx' 1st-qtr 15% revenue fall, loss better

US generic drugmaker Andrx Corp says that, in the first quarter of 2006, revenues totaled $241.1 million, down 15.3% from the like, year-ago period, while net loss improved to $11.3 million versus L 35.4 ,million.

During the period, its licensing, royalties and other revenues more than doulbed to $13.8 million, from $6.2 million in the comparable year-ago period, due to revenues from First Horizon related to its former brand products, which commenced in March 2005.

However, the firm noted that this was partially offset by lower revenues from Kremers Urban Development Co's (KUDCo) sales of a generic version of AstraZeneca's antiulcerant Prilosec (omeprazole) and no revenues from Ranbaxy Pharmaceuticals sales on Monopril-HCT, Bristol-Myers Squibbs' generic antihypertensive. Andrx' profit participation with these companies ceased in February 2006 and June 2005, respectively, and so, on a quarterly sequential basis, licensing, royalties and other revenues decreased $1.7 million from $15.6 million.