Aralez Reports Q2 2017 Financials
Aralez Pharmaceuticals released their financial results for the second quarter of 2017.
“We are pleased to report solid revenue and commercial progress across our business for the second quarter of 2017,” said Adrian Adams, Chief Executive Officer of Aralez. “We are also delighted with the strength of the early launch metrics for Zontivity® and are pleased that, within weeks of our national launch we have already reached all-time high prescription levels. We are seeing encouraging progress with Yosprala® and remain pleased with the stability and performance of the Toprol-XL® franchise. The Canadian business has also delivered strong quarter over quarter growth with the Blexten™launch significantly exceeding our expectations. Based on the overall solid performance of our portfolio, we currently expect to finish the year toward the upper end of our 2017 guidance range for net revenue. We also remain focused on enhancing our financial flexibility by creating a strategic pathway to reduce our debt balance and corresponding cash interest payments, to further extend our cash runway.”
Second Quarter 2017
Total revenues for the three months ended June 30, 2017 were $27.6 million compared to $12.6 million for the three months ended June 30, 2016. Net product revenues of $8.8 million for the three months ended June 30, 2017 primarily related to the product portfolio acquired with the acquisition of Tribute as well as net product revenues from Zontivity, Yosprala and Fibricor®. Other revenues of $18.9 million for the three months ended June 30, 2017 were comprised of net revenues from the Toprol-XL franchise acquisition, license fee revenue recognized in the second quarter of 2017 in connection with a license agreement executed in May 2017, and Vimovo royalties. Net product revenues of $7.4 million for the three months ended June 30, 2016 related to the Tribute product portfolio acquired in the Merger. Other revenues of $5.2 million for the three months ended June 30, 2016 were comprised solely of Vimovo royalties.