Draxis Health reported record second-quarter revenues of $16.7 million, up 42% compared with the $11.8 million turned in during the second quarter of 2003. For the quarter (end-June 30), the Mississauga, Ontario-based vendor had net income of $2.3 million, compared with net income of $700,000 a year ago.
The results were driven by an outstanding quarter in the firm's Draxis Pharma contract manufacturing business, said president and CEO Dr. Martin Barkin. Year-to-date revenue growth from product sales and earnings before interest, taxes, depreciation, and amortization (EBITDA) in the company's DraxImage radiopharmaceuticals business are on track, Barkin said.
By AuntMinnie.com staff writers
August 12, 2004
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