Talecris unveils second quarter financial results
Local Tech Wire
RESEARCH TRIANGLE PARK, N.C. – Talecris Biotherapeutics released their second-quarter figures on Thursday.
The RTP-based maker of plasma protein therapies reported second quarter net income of 47.6 million, or 37 cents per diluted share, down from net income of $83.3 million, or 89 cents per share, in the second quarter of 2009.
Talecris (Nasdaq: TLCR), which has agreed to be acquired by Spain’s Grifols for $3.4 billion, attributed the drop in net income to merger-related items in both second quarters.
The 2010 period was hit by merger-related charges of $5.2 million, or 4 cents per diluted share.
"During the quarter, we announced the next step in our company's transformation - our proposed combination with Grifols to create a world-leading provider of plasma protein therapies," said Lawrence D. Stern, Talecris' chairman and chief executive officer. "The combined company will have a more diversified and balanced product portfolio, a global footprint to provide more life saving and life enhancing therapies to the patients we serve, and an innovative R&D pipeline that will provide continued value to our shareholders well into the future."
Factoring out merger-related items, Talecris’ profit rose by 44.3 percent to $52.8 million from $36.6 million. Net revenue for the 2010 second quarter was $402.8 million compared to $375.6 million in the second quarter of 2009, an increase of $27.3 million or 7.3 percent.
Sales also increased for Talecris’ biggest products – Gamunex, which treats diseases that weaken the immune system; and Prolastin, a treatment for a form of emphysema caused by a genetic disorder.
Talecris achieved a number of financial and commercial milestones in the second quarter of 2010 and since the conclusion of the second quarter. These include:
- June 15 – Entered a co-promotion arrangement with Novartis Vaccines to jointly market and sell their respective post-exposure rabies products
- June 6 – Entered into a definitive merger agreement with Grifols
- May 24 – Talecris common stock was added to the NASDAQ Biotechnology Index (NASDAQ: NBI)
- May 13 – Received approval from Health Canada to launch Gamunex for subcutaneous administration in Canada, giving Gamunex the broadest set of indications for any approved subcutaneous product in Canada. The company anticipates launching subcutaneous administration in Canada in the second half of 2010
Talecris employs about 1,500 people at its Clayton manufacturing facility.
Get the latest news alerts: Follow LTW at Twitter.
Copyright 2012 WRAL Tech Wire. All rights reserved.
Featured
E-mail Preferences
The Skinny
- What brands are winning Super Bowl hype? Two Durham firms to find out
- In Super Bowl of social media, Patriots win, Triangle firm says
- Big job cuts coming at IBM? Don't be surprised
- Erskine Bowles is among those who can cash in big time on Facebook IPO
- Ignore Facebook hype - Check out 'risk factors,' too
- Facebook vs. Google IPO: Which deal ranks better?
- Triangle StartUp Factory says business already booming
- Entrepreneurship remains at heart of Tech Wire mission
- Flashback: Tech Wire launched 10 years ago today
- Silicon Valley's 'most provocative voice' - Former RTP exec Vivek Wadhwa