Adams records strong FY 2007 sales

CHESTER, N.J. Adams Respiratory recorded fiscal 2007 sales ending June 30, of $331.6 million, an increase of 39 percent, driven by heavier retail consumption, the company reported Tuesday.

"Solid retail consumption and strong market share gains of our key brands during this non-seasonal [fourth] quarter represent a healthy business," stated Adams’ chief operating officer Robert Casale. "At this time we already have commitments and programs to support a 20 percent display increase over last year. We’re expecting another year of strong promotional support across all our major drug customers. It is safe to say, based on initial trade orders and acceptances, that we will have all of our new products and segments in distribution at most outlets in the Food, Drug and Mass channels. By the end of this week, we expect to have shipped all of these products except grape Delsym," he said. "The adult and children’s versions of grape-flavored Delsym are awaiting final Food and Drug Administration approval."

The solid top-line growth was primarily due to higher sales of new products such as the line of Mucinex for Children products and Delsym, as well as the continued market penetration of Mucinex DM and Mucinex D. The annual sales growth was tempered by a decline in sales of Mucinex SE, primarily due to a greater availability of and patient conversion to Mucinex DM, the company reported.

Overall net sales in fiscal 2007 were tempered by a lower severity of upper respiratory illness during the 2006-2007 cough/cold season.