27 Apr Bone Care marks solid quarter on Hectorol sales jump
Middleton, Wis. — Bone Care International, Inc., which makes the drug Hectorol, reported $2.5 million in profits on $22 million in sales for the quarter ended March 31.
Hectorol is a Vitamin D-based drug used to lower abnormally high levels of parathyroid hormone in patients with chronic kidney disease. Gross margins run about 75 percent.
The company had a marked increase in profitability from the same quarter last year, when it reported losses of $2.3 million on $11.6 million in sales.
Bone Care said it has $119 million in cash and investments.
Separately, the company said that a former Bone Care CEO, Charles W. Bishop, is returning to the company as an executive vice president and chief scientific officer. Bishop worked for Bone Care from its inception in 1987 until 2002.
A representative from Bone Care will present at the Deutsche Bank 30th Annual Health Care Conference at 2 p.m. eastern time on May 3 in Baltimore, Maryland. A webcast will be available.