Question-and-Answer Session
Operator
(Operator's Instructions) Our first question comes from the line of Tim Chiang with FTN Equity.
Tim Chiang - FTN Equity
Thanks, Paul. Good morning. I wanted to ask you about the metoprolol launch. How has that gone? Did you have significant revenues in the third quarter or do you expect that to benefit your fourth quarter results? I wanted to get your thoughts also on where you expect your share to be two-three quarters from now.
Paul M. Bisaro
Yeah. We were very pleased of the launch of the 25 and 50 mg metoprolol. I think the market has begun to settle out. There was a fair amount of stock in the trade in the third quarter that had to be worked through, although we did get some significant product out in the third quarter. We do expect to do about the same amount in the fourth quarter that we did in the third quarter and as to market share, we're pretty comfortable with where things are settling out and it's basically a two player market. We ended up in a good solid position. Of course market share is always a balance between price and market share so I think we're very pleased with where we ended up.
Tim Chiang - FTN Equity
Can you comment a little bit on where the prices settled for you guys relative to the other players?
Paul M. Bisaro
Well, I think the prices settled as it would in a two player market. It has settled nicely and we don't see a lot of continued pricing pressure on the product at the moment. I wouldn't anticipate any unit there's another sort of event that might occur, new entrant, that sort of thing. So I think it'll be fairly stable going forward.
Tim Chiang - FTN Equity
Would you say that the same thing’s happening in Micro-K as well, Paul?
Paul M. Bisaro
Well, Micro-K is a different situation. We're the only player in Micro-K so it is a significantly different situation for us. We had a very solid quarter with Micro-K. We expect that to continue through the end of the year. We don’t expect any new competition on Micro-K through the end of the year now or any significant competition I should say, but that is a one player market so our pricing is accordingly. The product is accordingly priced, I should say.
- To read the full transcript on Seeking Alpha, click here »
