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Financial Report: Patheon

Banner boosts revenues

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Patheon

3Q Revenues: $265.7 million (+30%)

3Q Earnings: $4.3 million (earnings were $15.5 million 3Q12)

YTD Revenues: $733.1 million (+36%)

YTD Loss: $46.9 million (loss of $83.5 million YTD12)

Comments: Revenue growth in the quarter was boosted by the Banner acquisition, which contributed $66.4 million. Commercial manufacturing (CMO) revenues for quarter increased 35% to $227.8 million. Pharmaceutical Development Services (PDS) revenues increased 7% to $37.9 million. YTD Banner revenue contributed $144.2 million. CMO revenues were up 43% to $627.4 million and PDS revenues were up 5% to $105.7 million.

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