Barr posts $391M net loss in 4th qtr 2006

Barr Pharmaceuticals say that, for the three months ended December 31, 2006, it swung to a loss of $390.9 million, or $3.67 per share, from net earnings of $94.9 million, or $0.88 per share, for the same period last year, despite the fact that revenues in the period reached $584.0 million from $326.0 million.

During the period, the company's total generic sales increased to $439.0 million from $209.0 million, with a strong contribution from its US business,which generated $298.0 million verus $209.0 million, due to the inclusion of sales from Pliva's US operations which have now been integrated into Barr. The increase is also related to strong sales of its oral transmucosal fentanyl citrate, a generic version of Cephalon's opioid painkiller Actiq, which was launched in late September 2006, and higher oral contraceptive sales. These increases more than offset lower sales of certain other products, including desmopressin acetate tablets, for the treatment of central diabetes insipidus, temporary polyuria and polydipsia following head trauma.