For the second quarter 2012, Global product sales, net, were $126.4 million, up 14% from the prior year period, primarily due to higher sales of authorized generic Adderall XR®. Partially offsetting this increase was a $2.4 million decline in Rx Partner revenues due to lower customer demand.
Gross profit of $62.6 million represented a 47% gross margin in the second quarter 2012, and was in-line with the gross margin for the prior year period, primarily due to higher sales of our authorized generic Adderall XR® product.
Total generic operating expenses in the second quarter 2012 increased slightly compared to the prior year period, as higher patent litigation and selling, general and administrative (SG&A) expenses were offset by lower investments in research and development (R&D).
Impax Pharmaceuticals Division Information
|(unaudited, amounts in thousands)||
Three Months Ended
Six Months Ended
|Impax Pharma product sales, net||$||28,091||$||-||$||28,091||$||-|
|Cost of revenues||18,159||2,901||21,068||5,841|
|Research and development||7,733||10,512||15,887||20,227|
|Selling, general and administrative||6,707||1,377||9,768||2,483|
|Total operating expenses||14,440||11,889||25,655||22,710|
|Income (loss) from operations||$||793||$||(9,489)||$||(8,028)||$||(17,947)|