Large-scale manufacturing helps AMRI's top line

CDMO Albany Molecular Research ($AMRI) said large-scale manufacturing revenue was up 14% to $29.3 million in its third quarter and total contract revenue was up 4% to $45.6 million. Still, it wasn't enough to pull the company into the black. The Albany, NY-based company reported a loss of $2.14 million, which was a significant improvement over the $5.9 million loss reported a year earlier. Royalty payments it receives for the API in the antihistamine Allegra, were also up sharply to $9.4 million, a 45% bump, the company said. Revenue from development and small-scale manufacturing fell in the quarter to $7.4 million, a 20% decline over last year. Release | More

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