MedImmune expects 170% leap in 1st-qtr EPS
US cancer and infectious and inflammatory diseases specialist MedImmune has said that it anticipates its first-quarter 2007 diluted earnings per share, excluding share-based compensation expense, to be in the range of $0.62 to $0.67, as compared to $0.23, excluding share-based compensation, a leap of nearly 170% on the like, year earlier period. This is due to an estimated 11%-12% increase in total revenues and a greater than two-fold increase in net income margin. The company also stated that, for the 2007 first quarter, it expects domestic and worldwide net sales growth of around 9%-10% for Synagis (palivizumab) over the same quarter in 2006.
MedImmune anticipates reporting its final first-quarter financial results on May 3, before the opening of the US financial markets. This allows the firm to report royalties and milestones earned on its HPV vaccine technology in the same quarter as the related vaccine sales are reported by Merck & Co and GlaxoSmithKline, US and UK drug majors, respectively.
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