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 $62.6 million represented a 47% gross margin in the second quarter 2012, and was in-line with the gross margin for the prior year period, primarily due to higher sales of our authorized generic Adderall XR® product.
|(unaudited, amounts in thousands)||Three Months Ended June 30,||Six Months Ended June 30,|
|Impax Pharma product sales, net||$||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)|