Double-digit advances in its contract manufacturing and radiopharmaceuticals segments fueled revenue and earnings growth for Canadian pharmaceutical firm Draxis Health in the third quarter (end-September 30).
The Mississauga, Ontario, company posted revenues of $21.2 million (U.S.) in the third quarter, up 22% from $17.5 million in the third quarter of 2005. Net income more than doubled to $2.6 million, compared with $1.1 million in the same quarter a year ago.
Revenues for the first nine months of 2006 were $64.6 million, compared with $60.8 million in the same period of 2005. Net income reached $7.9 million, a 17% gain over $6.7 million in the same period a year ago.
Contract manufacturing continues to account for the bulk of Draxis' revenues. The segment achieved a 25% gain, to $14.5 million in the third quarter, while nine-month revenues totaled $46.4 million, up 10% from the same period of 2005.
By AuntMinnie.com staff writers
November 2, 2006
Related Reading
Draxis reports income, revenue gains in Q2, August 10, 2006
Draxis joins Nasdaq Global Select Market, July 5, 2006
Draxis posts Q1 downturn, May 11, 2006
DraxImage shelves Fibrimage, unveils new generics initiative, March 28, 2006
Draxis shows 2005 revenue growth, February 10, 2006
Copyright © 2006 AuntMinnie.com
