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Cadence Pharmaceuticals' CEO Discusses Q2 2012 Results - Earnings Call Transcript

I would like to take a moment to put context around our launch of OFIRMEV. As of June 30, 2012 we sold a total of 3.1 million doses of OFIRMEV since the product launched in January of 2011. When compared to available data on comparable new hospital product launches during the past five years that we have reviewed, on average approximately nine times as many doses of OFIRMEV was sold and doses of those products during the first 18 months after launch. We believe this creates a strong base of OFIRMEV users that will continue to drive growth.

At this point, I would like to turn the call over to Scott who will discuss our commercial operations and sales performance during the second quarter.

Scott Byrd

Thank you, Ted. The second quarter was our best commercial quarter yet, during the quarter we sold over 1.1 million vials of OFIRMEV, an increase of over 300,000 vials or 38% as compared to the first quarter of 2012.

As a result, OFIRMEV’s quarterly IV analgesic unit market share grew to 1.93% in the second quarter of 2012 versus 1.41% in the first quarter. OFIRMEV continues to make inroads in the medical community and gain acceptance to the foundation of a multi-modal approach to acute pain management. There are three drivers that we believe account for the growing demand of OFIRMEV; growth in new customers, increasing order frequency and increasing average of quantities of product ordered by our customers.

The number of unique accounts that have ordered OFIRMEV as of June 30, 2012, increased to nearly 300,200 accounts, which is up 17% from the end of the first quarter of this year. We believe that this is indicative of physician demand for new methods to manage pain and the recognition of the role that OFIRMEV can play in a multi-modal approach to acute pain management.

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