Atrium Innovations Inc, a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based dietary supplements, released its results for the quarter ending June 30, 2012. Total revenue growth over last year was recorded at 4.1%, or 7.4% on a currency-neutral basis (all organic). Total branded revenue recorded solid organic growth of 12.2%. “We posted solid organic growth on a global basis with a particularly strong performance from our branded products at 12.2%, reflecting solid momentum in the HCP [health care professional] and Retail channels in North America,” said Pierre Fitzgibbon, President and CEO. “Aligned with our right-sizing initiatives, we have decided to close our manufacturing operations in Penticton, British Columbia by the end of September 2012. Production is in the process of being transferred to our other manufacturing facilities.” Mr. Fitzgibbon concluded, “As indicated over the past year, we face heightened pressure from a regulatory perspective. Associated expenses to elevate our cGMP standards have and will continue to impact margins. However, we are seeing evidence that the industry dynamic is changing which will allow overtime recovering part of these regulatory expenses.”
