Income Down As Spending Increases At Sepracor

Marlborough-based drug maker Sepracor reported third quarter net income of $19.4 million, a sharp decrease from the $40 million the company reported for the same quarter last year.

The company's third quarter operating income also saw a steep decline from $30 million a year ago to $3.4 million this year. The company reported increases in spending on research and development, selling and administration.

Revenue was up to $308 million compared to $281 million for the third quarter of 2007.

Sepracor makes the well-known sleep drug Lunesta among others.