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
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