OSI's 1st-qtr profit soars on strong Tarceva sales
OSI Pharmaceuticals' first-quarter 2008 profit more than tripled year-on-year, thanks to sales of its lead product, Tarceva (erlotinib), a cancer drug developed with fellow USA-based Genentech and Swiss drug major Roche.
The US biotechnology firm earned $29.2 million, or $0.49 per share, versus $6.6 million, or $0.12 per share, in the like, year-ago period, as revenue rose to $90.7 million from $77.5 million. A Thomson Financial analyst survey expected profit of $0.45 per share on income of $88.9 million.
Total worldside sales of Tarceva rose 35% to $267.0 million. Late last year (Marketletter October 29, 2007), the drug secured approval in Japan for the treatment of patients with non-resectable, recurrent and advanced non-small cell lung cancer which is aggravated after chemotherapy. Royalties on product licenses from Roche for the drug reached $32.0 million vs $19.0 million.
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.
Login to your accountTry before you buy
Free
7 day trial access
- 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
- 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
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze