Home > News > Little Drug, Big Sales
August 13th, 2007
Little Drug, Big Sales
Abstract:
Huge increases in revenue usually drive stock prices upward, but Abraxis BioScience's (Nasdaq: ABBI) stock has fallen 15% from its high last week, despite releasing a stellar earnings report. It appears that investors -- myself included -- are having trouble determining the future value of the company after its breakup later this year.
For the quarter, revenue rose 51% year over year, to $242.5 milllion. Much of that increase was due to Abraxis' nanoparticle drug ABRAXANE, which saw a 117% increase in revenue, including deferred revenue of $9.1 million from a $200 million upfront payment from marketing partner AstraZeneca (NYSE: AZN). According to June's IntrinsQ data, ABRAXANE is now the leading taxane given to metastatic breast cancer patients, surpassing Bristol-Myers Squibb's (NYSE: BMY) Taxol and Sanofi-Aventis' (NYSE: SNY) Taxotere.
Source:
fool.com
Bookmark:
| Related News Press |
Investments/IPO's/Splits
Daikin Industries becomes OCSiAl shareholder July 27th, 2021
INBRAIN Neuroelectronics raises over €14M to develop smart graphene-based neural implants for personalised therapies in brain disorders March 26th, 2021
180 Degree Capital Corp. Issues Second Open Letter to the Board and Shareholders of Enzo Biochem, Inc. March 26th, 2021
Nanomedicine
New molecular technology targets tumors and simultaneously silences two ‘undruggable’ cancer genes August 8th, 2025
New imaging approach transforms study of bacterial biofilms August 8th, 2025
Cambridge chemists discover simple way to build bigger molecules – one carbon at a time June 6th, 2025
Electrifying results shed light on graphene foam as a potential material for lab grown cartilage June 6th, 2025
Interviews/Book Reviews/Essays/Reports/Podcasts/Journals/White papers/Posters
Spinel-type sulfide semiconductors to operate the next-generation LEDs and solar cells For solar-cell absorbers and green-LED source October 3rd, 2025
Rice membrane extracts lithium from brines with greater speed, less waste October 3rd, 2025
 |
||
 |
||
| The latest news from around the world, FREE | ||
 |
||
|
|
||
| Premium Products | ||
 |
||
|
Only the news you want to read!
Learn More |
||
 |
||
|
Full-service, expert consulting
Learn More |
||
|
|
||