San Diego-based Cadence Pharmaceuticals Inc. (Nasdaq: CADX) has announced a preliminary estimate of net product revenue from sales of its Ofirmev acetaminophen injection for the three months ended Dec. 31, 2012.
In a release Wednesday, the company said it ended 2012 on a high note, with fourth quarter revenues exceeding the guidance given in its announcement of our third quarter 2012 financial results. The company's unaudited net product revenue from Ofirmev for the fouth quarter was reported to be approximately $17.1 million.
Ted Schroeder, president and CEO of Cadence, said the company believes its strategy to increase access to Ofirmev within the hospital and to build awareness of the product has resulted in growing sales.
As of Jan. 23, Cadence expects that net product revenue from sales of Ofirmev for the 12 months ending Dec. 31, 2013, will range from approximately $94.0 million to $100.0 million.