For comparative purposes, the following table presents the Company’s net product revenues as recognized for the three months ended March 31, 2012, and June 30, 2012, under the sell-through method, and as if the Company were still using the sell-through method for the three months ended September 30, 2012, which reflects a 16 percent increase in dispenses to patients from the second quarter to the third quarter:
|Three Months Ended||Three Months Ended||Three Months Ended|
|March 31, 2012||June 30, 2012||September 30, 2012|
Product revenues, net
|$ 19.3||$ 29.7||$ 34.5*|
* The $34.5 million excludes $9.0 million of previously deferred revenue and $0.2 million of gross-to-net adjustments and changes in inventory levels at the specialty pharmacies during the quarter.
2012 Guidance Update
The Company is updating its 2012 guidance and now anticipates that Jakafi net product revenues will be in the range of $130 million to $135 million, a change from the previous range of $120 million to $135 million.