Kenrico Announces Financial Results for 2010 and Financial Targets for 2011

SHIMADA, Japan, Nov. 1, 2011 /PRNewswire/ -- Kenrico today announced the disclosure of financial results for the year 2010 and financial targets for the year 2011.

Select Revenue Heights

Worldwide sales were $102 million for the year 2010, the highest yearly sales total for the company, an increase of 2% compared with 2009 ($100 million) and an increase of 24% compared with 2008 ($82 million).

The revenue increase largely reflects strong sales of sporopollenin based toxins extraction (TRMX-3), nattokinase based toxins extraction (Lexirin), Carbon Titanium and Lifetime Water Purifiers. As expected, successful clinical trials of the TRMX-3 contributed to the revenue increase. Nutraceutical and pharmaceutical sales from emerging markets accounted for 40% of sales of the year.

Key Developments

  • TRMX-3 (Supreme Edition), the company's sporopollenin based toxins extractor, was approved by Health Canada in Canada and in Europe by European Medical Device Agency. Separately, the company entered into strategic agreements with pharmaceutical companies to market nattokinase based Lexirin globally to physician for prevention of cell death. Apoptotic cell death plays a significant role in the tissue damage that occurs in association with aging and various abnormal conditions, for example, ischemia and various gastrointestinal disorders.

  • TRMX-3 and Lexirin received patent approval for global distribution.

Financial targets

Kenrico continues to expect full year 2011 revenue to grow in the low to mid single digit percent range from a base of $100 million in 2010.

In addition, the company updated its anticipated consolidated tax rate to range of 10 percent.

About Kenrico

Kenrico is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1985, Kenrico currently discovers, develops, manufactures and markets prescription and alternative medicines to address unmet medical needs. The Company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Kenrico medicines but help deliver them to the people who need them. Kenrico also publishes unbiased health information as a not-for-profit service. For more information, visit www.kenrico.com.

Media Contact
NURMAN SALIM
Phone: +81-547-47-3220
Email: [email protected]

SOURCE Kenrico

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