Savient Pharmaceuticals' CEO Discusses Q2 2012 Results - Earnings Call Transcript
As many of you know, I’ve been working with the board and our management team on executing our plans to position the company for future growth. I am pleased with our recent progress. For the sixth consecutive quarter we achieved sequential sales growth for KRYSTEXXA.
I believe the results achieved this quarter which include a 30% increase in KRYSTEXXA sales from the previous quarter illustrate that our strategy is taking hold. We’ve build the solid foundation for KRYSTEXXA and we are continuing to execute on our main objectives to drive sustainable results and build long term shareholder value through our targeted approach for growing new accounts and building upon existing accounts.
The success of our KPIP program. Our continued focus on communicating the benefits of KRYSTEXXA as a one of a kind treatment for the RCG population, and our successful execution of our clinical development plan to highlight significant clinical data and pursue publication opportunities.
We are similarly focused in Europe, where we continue to work with the European regulatory bodies to achieve approval in the EU and engage in an active process with potential partners to market prospects in the EU and rest of the world.Now, I would like to go through the specifics of the results of the quarter.In the second quarter, we continue to make steady progress in the commercialization of KRYSTEXXA and build on the momentum that we established at the end of the first quarter. During the second quarter, we achieved $4 million in net trade sales of KRYSTEXXA which represented a 30% growth compared to last quarter.We also added 143 new accounts in the quarter, bringing the total number of accounts that have bought KRYSTEXXA to 677. Shortly after the quarter ended, we announced a companywide reorganization plan that will reduce our workforce by approximately 35% effective in early September of this year.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV