Draxis grows Q1 revenues, net income

Canadian pharmaceutical firm Draxis Health enjoyed growth in both revenues and net income for the company's first quarter (end-March 31).

For the period, Draxis reported revenues of $19 million (U.S.), up 10% compared with revenues of $17.2 million in the same period the year before. The company reported net income of $1.8 million, compared with net income of $1.5 million in the first quarter of 2006.

Draxis said its adjusted operating income is up 55% compared to the same period a year ago as the company enjoys strong performance across all its business lines. A major milestone in the period was its filing of an abbreviated new drug application (ANDA) with the U.S. Food and Drug Administration (FDA) for a generic version of a sestamibi cardiac radiopharmaceutical, the company said.

By AuntMinnie.com staff writers
May 10, 2007

Related Reading

Draxis shows Q4, year-end strength, February 8, 2007

DraxImage to bring generic sestamibi to market, February 2, 2007

Draxis Health notches Q3 revenue and profit gains, November 2, 2006

Draxis reports income, revenue gains in Q2, August 10, 2006

Draxis joins Nasdaq Global Select Market, July 5, 2006

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