United-Guardian Q3 revenue rises on Renacidin sales, net income jumps
UG•United-Guardian’s third-quarter revenue rose 54% year over year to $3.49 million, while net income increased 247%. Pharmaceutical, cosmetic ingredient and medical lubricant sales grew, with expanded Renacidin formulary coverage contributing to pharmaceutical growth.
1. Sales growth drivers
Pharmaceutical sales rose 29% year over year, mainly due to higher Renacidin sales after expanded formulary coverage. Cosmetic ingredient sales jumped 187%, led by higher purchases from Ashland Specialty Ingredients, while medical lubricant sales increased 20% on higher orders from a customer in India.
2. Company plans
United-Guardian plans new marketing efforts to raise Renacidin awareness among healthcare professionals and expects to launch a new personal care product early next year.
