King's 1st-qtr 2007 revenue increases 7%

20 May 2007

The USA's King Pharmaceuticals' first-quarter 2007 revenues increased 7% on the like, year-ago period to $516.0 million, as net income more than doubled to $116.0 million, or $0.48 per diluted share, from $51.0 million $0.21 in the first quarter of the prior year.

The firm noted that, excluding special items, net earnings totaled $118.0 million, with diluted earnings per share of $0.48, versus earnings of $106.0 million and $0.44 per share.

Net income from King's branded pharmaceuticals business rose 8% to $449.0 million. Top performers included the muscle relaxant Skelaxin (metaxalone) which earned $112.0 million, an increase of 14%, while sales of the firm's chromatographically purified topical bovine thrombin product, Thrombin-JMI, netted $64.0 million, up 10%.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >

Today's issue

Company Spotlight

Ironwood is a US-based biotech advancing a pipeline of medicines in multiple areas of significant unmet need, including irritable bowel syndrome with constipation ((IBS-C)/chronic idiopathic constipation (CIC), vascular and fibrotic diseases, and refractory gastroesophageal reflux disease, among others.