October 28, 2008
Income Down As Spending Increases At Sepracor
By Matthew L. Brown
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.
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