Part D drugs push PolyMedica growth
WAKEFIELD, Mass. - PolyMedica revenues surged during the fourth fiscal quarter of 2007, thanks in part to Part D enrollment and a focus on business efficiencies.Revenues hit $178.3 million, compared to $140.6 million for the same period last year, the company reported May 23. Net revenues increased 27% to $178.3 million, up from $140.6 million for the same quarter last year. Diabetes revenue was $13.1 million, a 12% increase over last year, due to an 8% increase in patients and a 4% increase in revenue per shipment. "The expansion of our marketing and acquisition programs, sales channels and service offerings in our core diabetes business resulted in 19% year-over-year revenue growth," said CEO Patrick Ryan in a release.