Bentley reports 2nd-qtr 2006 EPS of $0.12

USA-based Bentley Pharmaceuticals says its second-quarter 2006 operating income rose 24% on the like, year-ago period, to $4.9 million, fueled by an increase in non-domestic licensing and manufacturing agreements and increased royalty revenues from sales of the testosterone gel Testim, marketed by Auxillium Pharmaceutical, which is the first commercialized product containing Bentley's CPE 215 proprietary drug delivery technology.

The firm's net income for the period totaled $2.6 million, or $0.12 per diluted share, approximately equal to that of second-quarter 2005, despite greater spending for drug delivery product development in the reporting period as Bentley upped R&D investment 55% to accelerate its intranasal insulin program.

Drug delivery business focus of expenditure