Charges hit Dragon's 3rd-qtr income
Canada-based Dragon Pharmaceutical, which recently announced plans to divest its erythropoietin business and concentrate on its antibiotics division (Marketletter November 22), said that third-quarter 2007 net income from continued operations was $970,000, up 200% on the comparable period last year. However, impairment charges related the divestiture meant that earnings were overshadowed by a $2.6 million loss from discontinued operations. Sales grew 102%to $23.10 million.
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