Barr's profits up 24% to $76M

USA-based drugmaker Barr Pharmaceuticals says that, for the quarter ended March 31, 2006, its net earnings were $76.1 million, or $0.70 per fully diluted share, up 24% on the profit it recorded in 2005. The company added that the results include a one-time payment of $7.8 million in relation to its write-up of inventory acquired from fellow US firm FEI Health in November 2005.

Sales of the company's generic products increased 6% to $200.0 million for the quarter. The firm says that is saw growth in the revenue contribution from its oral contraceptive range, which was up 8% to $101.0 million, adding that sales of Tri-Sprintec (estradiol) had increased during the period due to the supply problems encountered by one of its competitors.

In addition, the sales of Barr's branded products hit $99.0 million, up from the $96.0 million in 2005. The company attributes this growth to the success of its desmopressin acetate tablets, used for the treatment of central diabetes insipidus, temporary polyuria and polydipsia following head trauma. The firm's share price rose $0.10 to $60.51 in pre-market trading on the day of the results.