Diplomat Pharmacy's quarterly revenue up 59%

FLINT, Mich. – Diplomat Pharmacy on Tuesday posted revenue of $947 million, representing an increase of 59%, for the quarter ended Sept. 30. Total prescriptions dispensed increasated to 245,000, representing growth of 17%. 

 

“[Overall], the 32% growth in organic revenue was our highest organic growth quarter yet this year," commented Phil Hagerman, Diplomat chairman and CEO. "Across the entire organization, this was another very successful quarter as we saw tremendous growth in our core business, including our recent acquisitions, which are performing well ahead of our expectations. We are incredibly excited about our industry and its growth potential," he said. "There remains a rich pipeline of drugs in development that lend themselves to the specialty pharmacy model and I’m very confident in our ability to continue to win access to limited distribution panels. In the wake of such a strong quarter, we are raising our outlook for the remainder of 2015.”

 

For the full-year 2015, Diplomat Pharmacy now expects revenue between $3.25 and $3.4 billion, up from a previous range of $3.2 to $3.4 billion, and net income between $27 million and $29 million, up from a previous range of $11 million to $13 million.