Sunday, August 8, 2010

Zymogenetics Q2 Edited

Doug Williams

RECOTHROM. Net sales of RECOTHROM were up substantially compared to Q1 of 2010, and were nearly double the net sales in the same quarter last year. Hospital demand for RECOTHROM is continuing to increase steadily, as is our market share. Consistent with our business plan, we're now successfully converting large hospital groups over to RECOTHROM and in parallel have put in place programs to accelerate the actual conversion process inside an institution once this decision has been made. We began to see the positive impact of these programs in June.

Jim Johnson

Net sales of RECOTHROM were $11.9 million for the quarter, nearly doubling from $6 million in the second quarter of 2009. And compared to the first quarter of this year, net sales were up by 32%. The increase was driven by positive trends in hospital demand and market share, plus two other important factors. One was wholesaler inventory patterns. There was no significant change in wholesale or inventory levels in the second quarter, but there was a decrease in the first quarter that reduced our reported net sales and contributed to a higher percentage increase in Q2.

The other important factor was a temporary program designed to accelerate customer conversion, instituted in June, which added approximately $700,000 to our second quarter net sales.

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