Sepracor Reports Earnings Increase
Marlborough-based pharmaceutical company Sepracor Inc. said it saw second quarter revenue increase 6.3 percent to $294 million.
But the settlement of litigation, an income tax benefit and other "special items" put the company's net income for the quarter at $395.1 million compared to $4.8 million for the same period the prior year. Without the settlement money and other items, the company's second quarter net income was $6.7 million.
During the quarter, the company reached a patent infringement settlement with Breath Ltd., launched a new nasal spray and acquired Oryx Pharmaceuticals of Canada.
For the first half of the year, the company's revenue increased by 1.7 percent to $614.9 million compared to $604.5 million in the first half of 2007.
Sepracor makes the popular sleep drug Lunesta and other pharmaceuticals.
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