and good I’ll and past all of well we joining you that today to for persistency the of the our to pandemic. call. reviewing before relevant you turning Robert, we Thanks, Thank highlights elements manage some year in that We afternoon, through remain of hope start everyone. future. the key the safe as see the are future the
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approval was recent months. XX our For in Mycophenolate example, just achieved under
we product so such cycle few achieve past third developed to years. called The first the approval in
are expand great We we take is we working our changes existing to made partners efforts on strides portfolio to in in include time including our believe have be reflected financials, our being built. Such alliance changes to significant but value agreements strategic new fully selection. meaningful our products. our to Further, internal
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look launch Sevoflurane the to of competitors few with alliance size a Sevoflurane, We market launch half of based and on IQVIA relatively a data. product new partnership the We in also $XXX a million to back formed fiscal about strategic year.
a new pipeline. accomplishment products and second was last while even launched The year key grew we
costs a and expenses by single that approximately R&D the We included lowered million consolidating and reduction plan cost maintained control operating to our operating implemented firm discipline. over $XX also functions We exhibited location annually. completed and
The cash B year, with the later last highlighted for A hand we that key refinancing have transaction our successfully loans and pay-off was loans. improved third significant The we Term This of refinancing significantly on Term transaction structure. often as we capital several completed was our accomplishment reasons. a full
extend we XXXX, reduction our the larger several to could to of after First, assets more of is which our now XXXX maturity launch our and to debt. contribute debt in pipeline expected and meaningful from a are
mandatory Second, principal up our cash maturity. due the elimination we freed facility and flow, substantially payments credit upsize primarily to until of
debt this we position. resources the initiatives, have have result cash in have as opportunities. of not Thus, ready any a new our we leverage now invest covenants. growth improved with in does capital more Third, refinancing, working Fourth, combination to
accomplishment Of labs, our particularly the showed note day up a the plants in affordable was This, reliable course, of and our extra pandemic challenges every work teams, and our year. another of supply past to maintained to course, so are throughout all this in doing despite medicines. we
of all accomplishments. these We are proud of quite
impact aforementioned cost more reductions. influences. some the a of are of financial Well, COVID-XX competitive of particularly life profitable product significantly launches industry. of products. is year The encountered Of most these environment because performance impactful our offset environment, challenges. a top generic involves But with continued decline fact pressures real it offsets. the On course, We some also competition particularly and new competitive our with exceeded last downstream there to we in the the was
use said, performed. pandemic we cocaine-based product. being example, reduction resulted and sales the This For in elective fewer have of procedures our limited as medical
average product, branded than As NDA gross higher for Numbrino carries margin us. a our a
So in have our changes on down impact or up a sales disproportionate bottomline.
turn to upcoming meaningful positive With and leading past a Fortunately, specific background as year the will that to opportunities. the John the beginning we note to to results, financial Well, I attenuate. foretell of many factors continue outlook for negative believe the our are years.
sales certain the anticipated our face to offset products, of product overall We pricing new by launches. recent pressure benefit expect partially and gross again continue net to competitive margin key and by of
sales. the to elective NDA our increase pandemic an increase impacted we by procedures with see be in in these subsides, along further and to of would continuation expect Once sales Numbrino being expect types that, of We performed. a of also an surgeries
and forecasting year are profits, see in a sales XXXX as down we year. fiscal a While trough we
Our by future those already of same that note any key API calendar potential we to both also our have meaningful further guidance. delays ongoing have relative increase. products At a DISKUS believe not been pressure. to expect ADVAIR in time, less be has the forecast, want impacted pricing pipeline the products do XXXX include sales in result the launch product product XXXX. our zolmitriptan continues Nevertheless, in Thus, to of notable our downside. we potential in also XXXX our products fiscal the competitive did as I to while is we Similarly, FY contributors XXXX, of FY year not supplier. from our contemplated generic
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approved partner continue FDA additional are We launch to and plus products pending at pending products that including products, approximately the four launch. the XX and ANDAs
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to products regard average. have than product continue more to currently disclosed historical our our has valuable With been five We assets. target durable pipeline, large we
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We both could also and looking access opportunities a yield international to relationships discussions at with Well, third form preliminary, Europe. clinical on with and developments our markets meaningful opportunities are have very to along for such data, their IP, capacity USA products insulin such parties in our related the partners. strategic HEC value alliance such the to as ourselves to accelerate XX manufacturing leverage
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believe transform by I to that in have our dollar firm billion call exciting XXXX. expanding With turn the pipeline a potential to all the advancing continue John? to John. We company and products that, our the still over into
