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By comparison, and in addition to the fourth quarter 2007 events arthritis treatment cited above, reported GAAP income from continuing operations for the full year 2007 included a $20.0 million gain on the sale to Optimer of marketing rights to the investigational drug Difimicin (Par 101), a $4.5 million investment gain on the sale of shares of Optimer com stock, and net settlement gains synthroid pine bark of $0.6 million. The decrease in SGA diamicron erowid expense was primarily due to lower employee compensation, the non-recurrence of the 2007 stock option tender offer and the resulting lower stock option arthritis treatment costs, and lower expenses relates to sales and marketing of Megace(R) ES, which offset higher legal fees, severance costs and increased outside consulting costs. The $15.4 million fourth quarter charge related to the restructuring will result in cash expenditures of approximately $6.0 million in 2009. This is compared with reported revenues of $155.1 million and income from continuing operations of $5.5 million, or $0.16 can i take antibiotics with slim forte per diluted share, for the same period in 2007.
By comparison, fourth quarter 2007 results included a pre-tax gain of $3.1 million from Par's sale of its remaining investment omnicef antibiotic ointment in Optimer Pharmaceutical, Inc. arthritis medicine Safe Harbor Statement
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The replay dial-in number is 888-286-8010 for domestic callers and 617-801-6888 for international callers. Generic product gross margin decreased to 22.2% of generic revenues in 2008 from 29.8% of generic revenues in 2007 driven by increased sales of lower margin metoprolol does herbalife interfere with sertraline succinate, lower sales of existing products as mentioned above, and an impairment charge of $4.9 million for nabumetone, and lower inventory pain treatment write-offs, in addition to the other factors discussed above.
These benefits were tempered by $19.2 is metformin good for overall health million of costs related to business development activities in support of Strativa Pharmaceuticals, Par's branded division, a $6.0 million loss on an investment, $1.6 million of severance costs. Par has scheduled a conference call for at 9:00 am EST to discuss results buy pain relief online usa for the fourth quarter and full year 2008. The decrease was due primarily to a net reduction of $11.7 million of one-time Strativa milestone payments. pain relievers Strativa revenues increased 2.7% from the prior year to $87.1 million driven by a mid-year price increase, fees related to the co-promotion of Androgel(R), and timing of trade buying patterns offset by a more challenging reimbursement environment.
Research and development (RD) expenses decreased 23.2% from the year ended , to $59.7 million, and represented 10.3% of total revenues. "This momentum should continue into 2009 as the results of our restructuring takes hold and solid product drug store sales continue."
In October, Par announced its plans to resize its generic division by significantly reducing its research and development expense and trimming its product portfolio resulting in a workforce reduction of approximately 190. Adjusting for these items, income from continuing operations for the full year ended would have been $55.1 million, or $1.59 per diluted share. Revenues from Strativa represented 15.1% of total revenues, as compared to 11.0% in 2007. "Given the challenging environment pain pills of 2008, we are pleased with the operating results over the last two quarters," stated Bendix G.
For the fourth quarter ended , Par reported total revenues of $161.3 million and a loss from continuing operations of $30.5 million, or $0.91 per share. Strativa's gross margin increased to 77.7% generic avelox of branded revenues from 76.0% in 2007 due to revenue growth discussed above. For the year ended total revenue decreased 24.9% to $578 million compared with the same period a year earlier as a result of a decrease in the number of new product launches, trimming of Par's generic product tramadol portfolio, increased competition in Par's generic products. Com stock and $4.6 million of additional share-based compensation expense related to Par's employee stock option tender offer. Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements. This is compared with reported revenues of $769.7 million and income from continuing operations pain meds of $51.1 million, or $1.47 per diluted share, for 2007. SOURCE Par Pharmaceutical Companies, Inc..
Access to the live webcast can be made via Par's website at and will be available for 30 days. This is compared with reported net income of $49.9 million, or $1.43 per share in 2007. LePore, chairman, president and chief executive officer. Par's 2008 gross margin represented 30.5% of total revenues, a decrease from 34.9% in 2007.
For the year ended , Par reported total revenues of $578.1 prometrium false positive pregnancy test million and a loss from continuing pain relief operations of $45.9 million, or $1.38 per share. Revenues for the fourth quarter 2008 increased 4.0% compared with the same period in 2007 due primarily to the launch of sumatriptan succinate injection, increased sales of metoprolol and Megace(R) ES. Products which experienced significant volume and pricing declines included fluticasone, propranolol, cabergoline, various amoxicillin products, ranitidine syrup, tramadol HCl and acetaminophen tablets driven by Par's exit from the market, and lower royalty payments of ondansetron tablets, among others. Adjusting canadian online pharmacy without prescription for these items, income from continuing operations for the fourth quarter of 2007 would have been $6.5 million, or $0.19 per diluted share. Revenues from Par's generic segment declined 28.3% for the full year 2008 to $491.1 million primarily due to competitive pressures that adversely affected the volume and pricing of certain existing products. For and other company information, visit. As of , Par had working capital of $193.8 million, which includes $142 million of current liabilities due to mature in September 2010.
On-going RD expense in support of Par's strategy to expand Strativa increased $1.7 million driven by costs related to the development of Zensana(TM). dangers ibuprofen Par's reported, or GAAP, loss from continuing operations for the year ended , included the write-off of an intangible asset and certain inventories related to the trimming of its generic product portfolio of $5.5 million, a charge related to a government pricing contingency of $4.8 million, a $7.8 million net impairment charge related to various investments, $7.5 million in development milestone payments to MonoSol Rx and Alfacell, and $9.0 million of gains from the sale of non-core ANDAs and other product rights. Adjusting for these items and other special items, income from continuing operations for the fourth quarter 2008 would have been $7.1 million, or $0.21 per diluted share. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. For a copy of Par's 2008 Annual Report on Form 10-K, visit acai and antidepressants Investors/SEC Filings on the Par web site at.
Par Pharmaceutical Companies, Inc. These decreases were offset by higher sales of meclizine, which re-launched in July, the launch of dronabinol in July, and the launch of sumatriptan succinate in November, and increased sales of metoprolol succinate to new customers. A replay of the conference call will be available commencing approximately one hour after the call. Develops, manufactures and markets generic drugs and innovative branded pharmaceuticals for specialty markets. Par invites investors and the general public to listen to a webcast of the conference call. The dial-in number is 888-679-8034 for domestic callers and 617-213-4847 for international callers. Fourth quarter 2008 reported, or GAAP, loss from continuing operations also included the write-off of a restructuring charge of $15.4 million and other related costs of $3.8 million, $49.2 million in charges due to an unfavorable court decision and related legal fees, $5.3 million gain on non-core ANDA sales and the sale of other product rights, $4.9 million impairment charge related to various investments, and a $7.9 million gain related to sherlock debt extinguishment. Par reported a loss for the fourth quarter ended of $32.0 million, or $0.96 per share.
Selling, General and Administrative
Selling, general and administrative (SGA) expense of $137.9 million for the year ended decreased slightly from $138.2 million in 2007. For the full year 2008, Par reported a loss of $47.8 million, or $1.43 per share. PRX) today reported fourth quarter and full year 2008 results tramadol diet pills ended. Par Pharmaceutical Reports Fourth Quarter and Full Year 2008 Results
WOODCLIFF LAKE, N.J., / - / -- Par Pharmaceutical Companies, Inc. Adjusting for
