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Avanir Pharmaceuticals' CEO Discusses F3Q12 Results - Earnings Call Transcript

Stocks in this article: AVNR

During the course of this conference call we will be making certain forward-looking statements. These statements are subject to numerous risks and uncertainties and reflect our current expectations and judgments. Examples of these forward-looking statements includes statements relating to our expectations for NUEDEXTA sales and revenue growth, future expense levels, the timing and success of future development of AVP for other indications and the potential approval of NUEDEXTA in new markets.

Actual results could vary materially from the results anticipated by these statements. Investors should read the risk factors set forth in Avanir’s Form 10-K for the year ended September 30, 2011 and periodic reports filed with Securities and Exchange Commission.

From an investor communications perspective, we will be presenting an overview of the company two meetings this month. Next week we will present at the Canaccord Genuity Conference in Boston and the Wedbush Pacific Growth Healthcare Conference in New York. A webcast of these presentations will be accessible through the Investor Relations section of our website.

With that said, I'll now turn the call over to Keith Katkin. Keith?

Keith Katkin

Thank you, Ian and good afternoon everyone. The Fiscal 2011 third quarter was another strong quarter for Avanir. We continue to see strong growth in NUEDEXTA sales and prescriptions and made substantial progress on our clinical and regulatory initiatives. We are delighted to announce that net NUEDEXTA revenues for the quarter exceeded $10 million representing net revenue growth of over 37% over the previous quarter.

Gross NEUDEXTA sales also grew by 33% over the previous quarter. Five quarters post our launch we continue to set new record high prescriptions and based on our most recent weekly prescription numbers of 2232, our annualized gross run rate is approximately $52 million.

Later on the call, Rohan will be giving an update on our commercial activities and the strong growth we continue to see in NEUDEXTA sales.

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