Draxis Health turns in record Q1

Canadian radiopharmaceutical manufacturer Draxis Health reported record revenues of $10 million (U.S.) in the first quarter of 2002, up 18% from the $8.4 million booked in the first quarter last year. For the period (end-March 31), the Mississauga, Ontario-based vendor had net income of $783,000, compared with net income of $613,000 a year ago.

Strong results in the firm's radiopharmaceuticals business was driven primarily by increased product sales in the U.S., according to president and CEO Dr. Martin Barkin. These sales included fulfillment of order backlogs for the company's lyophilized diagnostic imaging products, he said.

By AuntMinnie.com staff writers
May 16, 2002

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