Concordia Sees Fiscal 2016 Revenue Of $1.02 Billion To $1.06 Billion

Concordia Healthcare Corp. said Monday it expects to more than double the size of its business following the close of its acquisition of Amdipharm Mercury Ltd. on Oct. 21, forecasting revenues of $1.02 billion to $1.06 billion for fiscal 2016. The drug company is expecting adjusted net income of $330 million to $355 million, or EPS of $6.29 to $6.77 for the year. The company expects the combined business to generate high single-digit revenue growth in the next three years, driven by organic volume growth and up to 60 new product launches. Shares were not yet active in premarket trade, but are down 17% in the year so far, while the S&P 500 has gained 0.8%.