MedImmune Predicts
Solid Quarterly Growth
By CHRISTOPHER HINTON
April 9, 2007 1:08 p.m.
NEW YORK -- MedImmune Inc. forecast first-quarter earnings above Wall Street expectations on solid sales growth for its Synagis respiratory treatment.
The Gaithersburg, Md., medicines company said it expects first-quarter earnings, excluding stock-based compensation expenses, to rise to 62 cents to 67 cents a share, from 23 cents a share a year earlier.
Analysts surveyed by Thomson Financial had pegged earnings at 50 cents a share, on average.
MedImmune also projected revenue growth in the range of 11% to 12% and a more than doubling of its net-income margin.
The company also estimated first-quarter sales of Synagis grew 9% to 10%. That means MedImmune is well-positioned to hit its 2006-2007 Synagis sales guidance, Bear Stearns said in a note, adding that operating expenses appear to be running lower than expected.
Synagis's palivizumab is used to treat respiratory syncytial virus, which causes mild cold-like symptoms.
online.wsj.com |
