Recro Pharma, Inc., a specialty pharmaceutical company focused on therapeutics for the hospital and other acute care settings, posted revenue of $77.3 million and $71.8 million for the years ended December 31, 2018 and 2017, respectively. The increase of $5.5 million in 2018 revenue versus 2017 revenue was due to an increase in product sales to various commercial partners and increased profit sharing, including the impact from the new revenue recognition standard, recognized from one of our commercial partners.
“As we await the upcoming review decision from the U.S. Food and Drug Administration (FDA) for intravenous (IV) meloxicam, we are building our commercial infrastructure and preparing for our first potential product launch during 2019,” said Gerri Henwood, President and Chief Executive Officer of Recro Pharma. “For the Gainesville CDMO division, we achieved another record year generating 2018 annual revenue of $77.3 million, 8% higher than in 2017. As we look ahead to 2019, we expect to see continued strong performance from our manufacturing business, providing significant non-dilutive capital.”