88% Increase In EPS For 3rd Qtr At Medco

Medco Research has reported a sharp increase in net income for the thirdquarter ended September 30, 1997, to $3.2 million or $0.30 per share, which represents a rise in earnings per share of 88% compared to the corresponding period last year.

Income for the period included a $400,000 milestone payment from partner Suntory, following the initiation of Phase III clinical trials in Japan for Adenoscan (adenosine; Marketletters passim). Net income for the first nine months was $6.9 million, or $0.65 per share, increases of 107% and 117% respectively, on the same period last year.