Sepracor's Q4 revenues soar
Sepracor Inc. of Marlboro recorded its first year of more than $1 billion in revenues, and posted Q4 revenues of $357.2 million, up from $311.1 million reported in the same quarter in 2005.
Of the Q4 revenues, revenues from Sepracor's pharmaceutical product sales were approximately $348.8 million, with its LUNESTA brand, an insomnia treatment, contributing $148 million to that total. In Q4 of 2005, pharmaceutical product sales represented revenues of $302.9 million.
Net income for Q4 '06 was approximately $99.1 million, or $0.85 per diluted share, up from $36.9 million reported in 2005, or $0.31 per diluted share. Net income for the year ended Dec. 31, 2006 was approximately $184.6 million, or $1.60 per diluted share, compared to $3.9 million, or $0.03 per diluted share, for the year ended Dec. 31, 2005.
"The year 2006 was a year of significant achievement for Sepracor and its stakeholders," said Timothy Barberich, chairman and CEO of Sepracor. "It marks our first full year of operating profits and the first year that revenues exceeded one billion dollars."
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