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Cambrex Reports Fall in Profits and Sales
11:14 PM MDT | May 4, 2010 | Deepti Ramesh
Cambrex (East Rutherford, NJ) reported a 64% fall in net profits for the first quarter, to $1.7 million, compared with the year-ago period, on sales down 6.4%, to about $56 million. The decrease is primarily due to the timing of orders for two active pharmaceutical ingredients (APIs) manufactured under long-term supply agreements; a customer supply chain disruption for an API manufactured under a long-term supply agreement; and a feed additive for which a contract expired, Cambrex says. Lower pricing of certain generic APIs and a product utilizing the company's...
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