Assertio Increases Full-Year Net Product Sales Outlook to in Excess of $152 Million

Rhea-AI Summary

Assertio Holdings, Inc. (ASRT) has raised its 2022 full-year net product sales outlook to over $152 million, an increase from the previous forecast of over $141 million. This revision follows strong sales performance in the fourth quarter, with contributions particularly from Indocin and the newly added Sympazan. CEO Dan Peisert noted that net product sales have consistently exceeded expectations throughout the year, driven by better-than-anticipated volume across the product portfolio.

Positive

• Raised 2022 full-year net product sales outlook to over $152 million.
• Strong fourth-quarter sales performance exceeding previous estimates.
• Increased sales from both Indocin and Sympazan.

Negative

• None.

LAKE FOREST, Ill., Dec. 05, 2022 (GLOBE NEWSWIRE) -- Assertio Holdings, Inc. (“Assertio” or the “Company”) (Nasdaq: ASRT), a specialty pharmaceutical company offering differentiated products to patients, today announced that it is raising its outlook for 2022 full-year net product sales to greater than $152 million, increased from its prior outlook calling for net product sales of greater than $141 million for the full year. The Company noted that net product sales to date in the fourth quarter have significantly exceeded its prior expectations used in formulating the Company’s outlook provided with its third quarter results on November 8, 2022.

Said Dan Peisert, President and Chief Executive Officer of Assertio, “Net product sales in 2022 have consistently exceeded expectations. The revised outlook is driven by better than anticipated volume across the majority of our portfolio, and particularly Indocin. Our recent addition of Sympazan is also generating higher sales than our original projections.”

About Assertio

Assertio is a specialty pharmaceutical company offering differentiated products to patients utilizing a non-personal promotional model. We have built and continue to build our commercial portfolio by identifying new opportunities within our existing products as well as acquisitions or licensing of additional approved products. To learn more about Assertio, visit www.assertiotx.com.

Investor Contact

Matt Kreps
Managing Director
Darrow Associates
M: 214-597-8200
mkreps@darrowir.com 

Forward Looking Statements

Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio's current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, future events or the future performance or operations of Assertio, including our ability to realize the benefits from our operating model, successfully acquire and integrate new assets and explore new business development initiatives. All statements other than historical facts may be forward-looking statements and can be identified by words such as "anticipate," "believe," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may", "objective," "opportunity," "outlook," "plan," "position," "potential," "predict," "project," "prospective," "pursue," "seek," "should," "strategy," "target," "would," "will," "aim" or other similar expressions that convey the uncertainty of future events or outcomes and are used to identify forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Assertio, including the risks described in Assertio's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission ("SEC") and in other filings Assertio makes with the SEC from time to time. Investors and potential investors are urged not to place undue reliance on forward-looking statements in this communication, which speak only as of this date. While Assertio may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to update or revise any forward-looking-statements contained in this press release whether as a result of new information or future events, except as may be required by applicable law. Nothing contained herein constitutes or will be deemed to constitute a forecast, projection or estimate of the future financial performance or expected results of Assertio.

FAQ

What is Assertio's new sales outlook for 2022?

Assertio has raised its sales outlook for 2022 to over $152 million.

What were Assertio's previous sales projections for 2022?

The previous sales projection was over $141 million for 2022.

How did Assertio's sales perform in the fourth quarter of 2022?

Sales in the fourth quarter significantly exceeded expectations.

Which products contributed to Assertio's increased sales?

Indocin and Sympazan were key contributors to the increased sales.