SCOLR’s sales drop
This article was originally published in The Tan Sheet
Executive Summary
Revenues for the first quarter declined 76 percent to $265,555 for Bellevue, Wash.-based SCOLR Pharma, the firm announces May 2. The firm credits the previous year's higher revenues during the January-March period to $795,000 of research and development fees and licensing revenues from a terminated license agreement. Wyeth terminated a licensing agreement to use SCOLR's controlled delivery technology in OTC formulations (1"The Tan Sheet" March 19, 2007, p. 13). However, SCOLR is optimistic about its development of ibuprofen and pseudoephedrine formulas, its "lead product candidates." The firm this year announced the completion of two drug trials and plans for a 12-hour release of an OTC ibuprofen product (2"The Tan Sheet" March 24, 2008, In Brief)...