Adams Respiratory's net sales up 29% for the quarter at $76 million

By Lisa Kerner

Erie, Pa., May 11 - Adams Respiratory Therapeutics, Inc. net sale rose 29% to $76.0 million in the fiscal third quarter ended March 31, up from $59.0 million in the third quarter of fiscal 2005. The increase is attributed to strong market penetration of the company's Mucinex franchise.

Pretax income increased 13% to $27.6 million from $24.6 million in the prior-year period.

Income per diluted share was $0.46, compared to a loss of $1.67 per diluted share in the fiscal 2005 third quarter.

The company's gross margin was 78.7% for the quarter, down from 80.8% in the prior-year period.

Company highlights for the period include increased production at Winchester, Ky., facility, shipment of product in excess of guidance between $72 million and $75 million, and start of phase 2b clinical program for erdosteine.

"We started this year's season with about a 5% share of the cough/cold/allergy/sinus market at the end of October and ended the season in March with almost a 9% market share," president and chief executive officer Michael J. Valentino commented in a company news release.

"In addition, the Mucinex franchise catapulted to the No. 2 brand in the entire category, ahead of all but one major brand name competitor."

Located in Chester, N.J., Adams is a specialty pharmaceutical company focused on over-the-counter and prescription pharmaceuticals for the treatment of respiratory disorders.

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